China is set to boost its gasoline and gasoil exports from August as state-run refiners actively seek to clear the country’s surging oil product stockpiles with heavy rains and floods significantly denting domestic consumer and industrial fuel demand. Since June, 23 provinces and Chongqing municipality have been suffering from heavy rains and floods. During the period, the region along the Yangtze river recorded the highest accumulative rainfall since 1961 at 410.4 mm, according to China Meteorological Administration. As a result, the regions’ transportation, construction and broader industrial activities came to a grinding halt, putting the brakes on the domestic fuel demand recovery since the peak of […]