S. Korea to conditionally ease diesel export restrictions amid stable crude supplies

What happened: South Korea will conditionally ease diesel export restrictions starting in November, allowing exports of up to 110 percent of the volume recorded in the same month a year earlier, up from the current 100 percent cap. Key numbers: Cap rises from 100 percent to 110 percent of year-earlier monthly volume from November. Why it matters: The higher cap applies only if refiners meet domestic supply obligations and keep adequate inventories. Local refiners had called for the restrictions to be eased, and the government says it will reinstate the previous cap if supply concerns arise.

South Korea will conditionally ease diesel export restrictions starting in November, allowing exports of up to 110 percent of the volume recorded in the same month a year earlier, up from the current 100 percent cap.

The higher cap applies only if refiners meet domestic supply obligations and keep adequate inventories. Local refiners had called for the restrictions to be eased, and the government says it will reinstate the previous cap if supply concerns arise.