SINGAPORE Beijing has cut the pace at which it is allowing Chinese refiners to ship out oil products this year by more than 40 percent in its second quarter review of annual export volumes, traders familiar with China’s oil markets said on Wednesday. China controls oil product exports through quotas to state-run refiners after assessing domestic needs. Sinopec Corp, CNOOC Ltd and China National Petroleum Corp (CNPC) [CNPET.UL] were given an additional oil product export quota of 5.6 million tonnes for the year, down from the 9.75 million tonnes initially awarded for the year in the first quarter. The state refiners could not be reached for official comment on the matter. The refiners can usually apply for more allowances once initial quotas are used up. The quotas are typically given every quarter after a review of domestic supply and demand balances. The drop in the volumes issued this quarter […]