China has issued a new batch of oil product export quotas and they are 5.3 percent higher than they were this time last year as the country’s refineries return to processing record-high amounts of crude oil. S&P Global Platts reports the total amount of the quotas is 23.79 million tons under the general trade route. Added to the oil product export quotas under the processing route, the total that Chinese refiners can export comes in at 45.29 million tons since the beginning of the year. That’s up from 43 million tons a year ago. Of the total, the biggest share is for gasoline, at 9.09 million tons. Next is gasoil with quotas for 9.175 million tons, and last is jet fuel, the export quota for which is 5.525 million tons, all under the general trade route that covers CNPC, Sinopec, CNOOC, Sinochem, and China National Aviation Fuel. Now Beijing […]