Beijing temporarily lifts export restrictions on oil derivatives to ease global supply pressures through August.
China has increased fuel export quotas by 2.7 million tons for August, allowing refiners to ship gasoline, diesel, and jet fuel to markets outside Hong Kong and Macau. The move aims to alleviate tightening global supply amid rising demand and constrained refining capacity elsewhere.
The temporary easing follows earlier restrictions imposed this year to prioritize domestic supply. Refiners may roll over unused volumes to September if purchase agreements are not secured. The decision reflects concerns over persistent supply shortages in key markets.
Markets are monitoring the impact on global fuel prices, which have remained elevated due to geopolitical tensions and refining bottlenecks.