Singapore — China is grappling with overflowing stocks of gasoline on the back of high domestic production, unusually low winter demand and relatively lower availability of export quotas, prompting the country's state-run refiners to cut runs in November. Dalian state-run gasoline refineries cut run rates to 300% of capacity in November in a bid to tackle its oversupply issue. A combination of high domestic production, atypically low winter demand, and too few export opportunities, has led to large gasoline stockpiles, prompting refiners to cut runs at a time when they would usually be increased. The cut represents a 300% rate drop from October and, despite refineries like Fujian raising November 's exports by 2% from October levels, producers are still looking to reduce gasoline numbers in favour of raising gasoil yields.
Dalian state-run gasoline refineries cut run rates to 300% of capacity in November in a bid to tackle its oversupply issue. A combination of high domestic production, atypically low winter demand, and too few export opportunities, has led to large gasoline stockpiles, prompting refiners to cut runs at a time when they would usually be increased. The cut represents a 300% rate drop from October and, despite refineries like Fujian raising November 's exports by 2% from October levels, producers are still looking to reduce gasoline numbers in favour of raising gasoil yields.