Economics
China Is Sitting on an Ocean of Diesel Fuel
- Diesel exports hit record as demand slows amid higher refining
- Shipments to Asian oil hub in Singapore may pressure margins
China Is Drowning in Diesel
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Add diesel to the commodities flooding global markets from China.
The nation exported a record volume of the fuel last month after already shipping unprecedented amounts of steel and aluminum overseas. The weakest economic growth since 1990 is sapping domestic demand for commodities, while refineries, mills and smelters grapple with excess capacity after years of expansion.