China has approved a one-off export quota of 500,000 tons of refined fuels for
state-owned refiners, effectively easing an earlier shipment ban. The gasoline,
diesel, and jet fuel cargoes are set to be exported next month to select regular
customers, likely including Vietnam, Laos, and other Southeast Asian nations,
according to sources. The move comes as the Iran war disrupts supplies of crude,
fuels, food, and fertilizer through the Strait of Hormuz. China had previously
restricted fuel exports to protect domestic supply, pushing inventories to
seasonal highs. State refiners have also begun seeking permits to resume
exports.
