China to Allow Higher Fuel Exports in May

China has allowed its state energy companies to export more fuels next month after a temporary suspension of all such exports in March. The volumes approved for export in May, however, are much lower than they were a year earlier. Beijing has approved fuel exports of 500,000 metric tons for May, Reuters reported today, citing unnamed sources in the know. This is up from an estimated 320,000 tons in exports this month, according to Vortexa. However, it is significantly lower than the average 1.6 million tons in fuel exports out of China last year,…