China's gasoline exports in July surged 75% from a year ago, customs data showed on Friday, as refiners stepped up overseas shipments amid new production and slowing domestic demand. Gasoline shipments were 1.56 million tonnes last month, data from the General Administration of Customs showed, up for a second month from 1 million tonnes in June and 890,000 tonnes in July last year.

Traders had expected refiners to ship near-record amounts of gasoline in July and August, with cargoes moving farther afield to Mexico and Nigeria as plants sought outlets for their fuel to soak up the swelling surplus at home, Reuters has reported. Diesel exports last month were 1.58 million tonnes, versus 2.07 million in June and 1.54 million tonnes in July 2018. The diesel market is relatively tight, supported by a cut in production by refineries in favour of gasoline.

Copyright Reuters, 2019