China's diesel exports surge to three-year high

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China ramped up diesel exports last month as weakening domestic demand forced refiners to boost overseas sales to draw down inventories.

Diesel exports rose to the highest level in nearly three years in March 2013 while China's overseas gasoline shipments surged to the highest level in a year.

China's net diesel exports in March 2013 stood at 394,851 metric tons or 95,800 barrels a day, the highest level since July 2010.

Further, net gasoline exports stood at 506,110 tons, equivalent to nearly 138,000 barrels a day, the most since March 2012.

Apparent oil consumption in China last month fell to the lowest level since October at 9.77 million barrels a day as a deepening economic slowdown crimps fuel demand in the world's second biggest crude oil consuming nation.

China's diesel imports fell 62 per cent to 21,080 tons in March 2013 from the same month a year ago, the report added.

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Story first published: Tuesday, April 23, 2013, 13:30 [IST]
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