China’s net oil products exports tumbled to a seven-month low amid speculation refiners chose to sell more fuel at home after the government stopped cutting domestic prices amid crude’s crash. Net product exports — a measure that strips out imports — fell 76 percent in January from the previous month to 350,000 metric tons, the lowest since June, according to calculations based on General Administration of Customs data released Monday. Gross fuel exports dropped 30 percent month-on-month, faster than the 7 percent slide in imports. The sudden slowdown in exports comes after the government’s decision to stop lowering fuel prices when crude trades below $40 a barrel , supporting gasoline and diesel above levels where they would be trading internationally. The shift may ease pressure on Asian refining margins after the record amount of diesel, kerosene and gasoline China shipped abroad last year. Brent oil, the global benchmark, has […]