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FILE PHOTO: A gas station attendant pumps fuel into a customer’s car at a gas station in Shanghai, China November 17, 2017. REUTERS/Aly Song/File Photo
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27 Nov 2023 12:41PM
BEIJING/SINGAPORE : China has issued an additional 3 million metric tons in fuel oil import quotas in 2023 for non-state firms, according to a notice released by the country’s Ministry of Commerce on Monday.
The additional quota takes the total for 2023 to 19.2 million tons, following the 16.2 million tons in non-state fuel oil import quotas issued at the start of the year.
The price premium on M100 fuel oil over Singapore MOPs 380cst rose to $80 per ton in late November, up from around $60 to $65 per ton in October due to strong demand from China amid tight supply of low sulphur feedstock, trading sources said.
Source: Reuters