China's booming car market risks petrol glut

Shanghai

CHINESE fuel makers rushing to cash in on the nation's booming car market may end up creating a glut of petrol, possibly forcing the excess onto overseas markets.

Stockpiles of the fuel surged to a record in April as production during the month and in March increased to the highest ever, government data and Bloomberg calculations show. Meanwhile, exports in the first four months jumped 36 per cent from the a year earlier.