Tag

Asian distillate

Total 1 items
ResearchPolicy2026-09-15

Third batch of product export quotas looms as the dual licensing regime reshapes Asian product arbitrage

China allocated roughly 31.9 million tonnes of product export quotas across two batches in 2026 to seven entities, with the third batch due by end-Q3. The domestic diesel crack reached CNY 1,225/t, a five-year high, while overseas cracks hit $150–160/bbl, opening an export margin that indirectly weighs on Asian distillate premia.