China's fuel exports edge back towards levels before Iran war as Beijing eases curbs

Business Recorder reported that China's refined oil product exports fell 12.9% in July from a year earlier, but rose 6.7% compared with June. Customs figures released on Tuesday showed that the loosening of export restrictions let pressured refiners ship more fuel overseas.

Authorities had sharply restricted shipments in March to shield the home market from the supply shock linked to the closure of the Strait of Hormuz during the Iran war. Controls were relaxed in July and again in August, and approvals by then were large enough to push exports above pre-war levels.

Total July refined product shipments reached 4.65 million metric tons, up from 4.36 million in June. Diesel exports rose 88% month on month to 810,000 tons, roughly matching last July, while gasoline shipments of 420,000 tons were 55.3% lower than a year earlier. Aviation fuel exports climbed 42% from June to 1.32 million tons, though they remained 33% below July last year.