China’s overseas shipments of fuels fell for a second year as Beijing tightened export quotas, in part to ensure sufficient domestic supply. Gasoline exports in 2021 slid 9.1% from a year earlier to 14.54 million tons, the lowest level in three years, government data show. That’s equivalent to about 333,000 barrels a day, according to Bloomberg calculations. China shipped the least amount of diesel since 2017, down 12.9% year-on-year. Exports slipped last year after state-run refiners were forced to provide more fuel to the domestic market to make up for a shortfall from independent oil processors. Supply from private operators declined after a consumption tax was levied on blending feedstocks. China has also been curbing exports to achieve its green goals of peak carbon emissions by 2030. China exported 940,000 tons of gasoline in December, 35% lower than a year earlier, government data showed. Diesel shipments were […]