Chinese refiners are preparing for a major reduction in export quotas.
of export quotas early this year, when a total of 18.99 million tons in allowances were issued, China is now set to limit quotas in the second batch to between 8 million tons and 12 million tons, according to the survey.
It is not clear yet when China will issue the second batch of quotas for 2023. Last year, China announced the second batch of fuel export allowances in June.
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