China’s diesel exports increased to a record in May as easing demand forced refiners to send surplus fuel overseas, while gasoline shipments rose amid swollen stockpiles. The nation’s outbound diesel shipments jumped to 1.48 million metric tons last month, while gasoline exports increased to 780,000 tons, the highest since December, data from the General Administration of Customs in Beijing showed on Tuesday. Domestic diesel consumption has remained weak, with apparent demand falling 8.6 percent from a year ago in April, according to data compiled by Bloomberg. Gasoline stockpiles in the world’s largest energy consumer jumped to a record during the same month as the country’s refiners ran at the fastest daily rate on record, Bloomberg calculations showed. “China continues to ship out a high amount of gasoline and diesel amid robust oil processing and weaker-than-expected demand,” Lin Jiaxin, an analyst with ICIS China, said before data were released. “Independent […]