Beijing permits Zhejiang Petrochemical to export fuel in July after a four-month halt, signaling a return to normal refining operations.
China has removed refined fuel export restrictions for July, allowing Zhejiang Petrochemical Co. to resume shipments after a four-month pause. The move follows disruptions linked to geopolitical tensions, including the Iran conflict, which impacted the world’s largest refining sector.
Zhejiang Petrochemical, controlled by Rongsheng Petrochemical, had halted exports in March. While July’s easing marks a shift, sources indicate uncertainty over whether the policy will extend into August.
The decision reflects efforts to stabilize fuel supply chains amid broader trade and geopolitical pressures, though market reactions remain cautious pending further clarity.