I posted a very brief remark on this earlier:
Reuters had more in an overnight piece. In brief:
- China’s exports of refined petroleum products, especially diesel, surged in the final two months of 2022, relieving some of the global shortage caused by unusually low exports since the middle of 2021.
- Coupled with the slowdown in the business cycle, increased exports from China have stabilised and started to replenish distillate inventories in North America and Europe.
Good news for the transport sector folks: