US financial services firm Morgan Stanley forecast in a note on Monday that concerns about global fuel shortages during the winter will ease, thanks to a possible increase in China’s fuel exports.
According to Bloomberg, analysts including Myank Maheshwari wrote that China’s monthly exports reached 3.3 million tons in the May-July period, with fuel oil accounting for half of the amount, but exports declined by 33% from the beginning of the year to August.
The note stated that if exports rise to 5 million tons per month in the last quarter, this will be in line with 2021 levels, and a breakthrough in the refining market, which is under pressure, is unlikely, if China’s exports increase, although it will contribute to reducing concerns about diesel supplies outside China. .
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