China’s gasoline and gasoil exports climbed to multi-month highs in December amid oil companies’ rush to use up product-export quotas by the year-end. Gasoline exports climbed to a seven-month high of 1.28 million mt in December, more than double the 633,000 mt exported in November, preliminary data released by the General Administration of Customs showed Thursday. The country’s gasoline exports in 2018 rose 22% year on year to 12.88 million mt, leaving 400,000 mt of gasoline quotas unused for the year. Beijing controls the country’s oil product exports by quota. The unused quota expired by the end of 2018. In end November, the Chinese Ministry of Commerce surprised the market by issuing an additional round of quotas, including 760,000 mt of gasoline and 1.13 million mt of gasoil. “Oil companies are generally desperate to use up […]