Shafaqna English– China is set to maintain steady refined fuel export volumes in September compared to August, according to five trade sources, as Beijing continues to relax export controls, allowing refiners to capitalize on higher overseas profit margins.
China had restricted fuel exports in March following the US-Iran war, which disrupted crude imports from the Middle East, but while global crude supplies have since improved, fuel markets remain tight—partly due to Russian fuel shortages caused by Ukrainian drone attacks and limited Middle Eastern exports.
Chinese refiners are expected to export over 4 million metric tons of gasoline, diesel, and jet fuel in September, up from a monthly average of around 3 million tons last year. Jet fuel is projected to comprise the largest share, reaching up to 2.4 million tons, followed by diesel at over 1 million tons, with these rising exports likely to boost Asian supply and help moderate regional price increases.
Source: Reuters