China’s net oil products exports fell to a seven-month low amid speculation refiners chose to sell more fuel at home after the government stopped cutting domestic prices amid crude oil’s crash.
Net product exports — a measure that strips out imports — fell 76 percent in January from the previous month to 350,000 metric tons, the lowest since June, according to calculations based on General Administration of Customs data released on Monday.
Gross fuel exports dropped 30 percent month-on-month, faster than the 7 percent slide in imports.