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China suspends fuel exports, oil prices rise 2%
InfoMoney·CN·3 days ago
China has reimposed restrictions on refined fuel exports, citing depleted domestic crude and product inventories. This tightening reduces global supply of refined products, potentially supporting product cracks and prices. The move signals a shift from prior export-oriented policy, with implications for Asian and global fuel markets.
China has halted fuel exports, including gasoline and jet fuel, effective October, confirmed by multiple sources. This action is attributed to depleted domestic crude and product inventories and follows a previous suspension earlier in the year. The move is expected to tighten global fuel markets, particularly for diesel and jet fuel, and support product cracks and prices.