Shipments dropped 8.2% from September and were 13% lower than a year earlier, according to customs data released Monday. Diesel exports plunged 57% from a year prior.
The drop comes as refiners in Asia’s biggest economy reduce runs in the face of peak demand for motor fuel as transportation becomes cleaner. Apparent oil demand slipped 5.4% a day in October, according to data compiled by Bloomberg.
Oil processors were also cautious not to export too much fuel to ensure supply as a holiday boosted demand at the start of the month, according to Li Chunyan, an analyst with Mysteel OilChem. This month they are expected to increase gasoline exports slightly while cutting diesel shipments, according to OilChem.
