China’s gasoil exports hit a new record high at 722,516 mt in August, and are expected to remain on an upward trend amid sluggish domestic demand and with support from sufficient exports quotas. The August exports were up 33% from 543,992 mt exported in July, and also up 77% on year from 407,801 mt exported in August 2014, according to data released Tuesday by the General Administration of Customs. Gasoil exports of 669,831 mt in June this year were the second highest level recorded, Platts reported earlier. Chinese refiners have been boosting oil product exports this year — mainly gasoil — due to slow domestic demand, said a source with Sinopec. “Demand for gasoil is really bad in the domestic market this year and the demand growth for gasoline has also slowed, which forced many refineries to export more in a bid to ease stock pressure,” the source said. […]