China to Increase Fuel Export Allowances for July

China is raising the volume of fuels it is allowing state refiners to export, in a move that would alleviate concerns about tight refined petroleum supplies in Asia. China’s authorities this week met with executives from Chinese state-controlled refiners and told them they are now allowed to export up to 800,000 metric tons of refined petroleum products in July, trade sources told Reuters on Thursday. That would be up from an estimated total export volume of about 600,000 tons for June. China is also removing destination restrictions for…