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China issued the first batch of oil product export quotas for 2020 and they are 53 percent higher than this year’s, Reuters reports. At 28 million tons, the oil product export quotas will likely deepen an already serious glut of oil products on Asian markets that have eaten into refiner’s bottom lines. The quotas were issued to five state oil companies, including PetroChina, Sinopec, CNOOC, Sinochem, and China National Aviation Corp. It will be up to each of the companies to decide which fuels make what portion of their total quota,…