4 min listen
Asia gasoil, jet/kerosene and gasoline cracks may stay elevated on limited exports from China
FromOil Markets
Asia gasoil, jet/kerosene and gasoline cracks may stay elevated on limited exports from China
FromOil Markets
ratings:
Length:
22 minutes
Released:
Jun 30, 2022
Format:
Podcast episode
Description
Demand for transportation fuels has been picking up in Asia, as higher vaccination rates and improved mobility push regional economies to open up to near pre-pandemic levels. Global oil supplies, however, are not keeping pace with this recovering demand. China's move to inject more fuel supplies into the Asian market by way of a supplementary second round of oil products export quotas in early June is unlikely to help improve regional demand-supply balances. Moreover, China's oil product exports in 2022 are likely to fall from 2021 levels as Beijing aims to minimize outflows to meet its net-zero target. Refining margins for clean transportation fuels like gasoil, jet/kerosene and gasoline skyrocketed to historical highs earlier this month. Even as cracks have inched lower since, expectations are these valuations will stay elevated in the foreseeable future. In this podcast, S&P Global Commodity Insights' Rajesh Nair, Su Yeen Cheong, Oceana Zhou and Zhuwei Wang shed light on the current situation and discuss the scenarios that are likely to play out in the Asian clean fuels markets in the near to medium term.
Released:
Jun 30, 2022
Format:
Podcast episode
Titles in the series (100)
Chinese oil outlook: Potential room for growth for gasoil: Despite muted growth in demand in the past year, gasoil is one product to watch in coming months. Song Yen Ling, senior writer for Platts oil and gas news, examines the general outlook for Chinese oil demand and notable developments in the market. This is by Oil Markets