China’s refined fuel exports reached 6.01 million tons in August, representing a 12.7% increase from the same month the prior year, according to customs data. The August shipments exceeded pre-war levels, with jet fuel exports hitting record highs. However, the cumulative total for the first eight months of the year declined 9.6% compared to the equivalent period in 2025, reflecting the impact of export restrictions imposed earlier.
The Chinese government implemented an almost complete ban on fuel exports in early March following the outbreak of conflict in the Middle East and the closure of the Strait of Hormuz, which disrupted global energy supplies. The ban included limited exceptions for certain Southeast Asian destinations. Since that time, Beijing has gradually loosened these restrictions.
Diesel emerged as the standout performer among fuel categories, with exports surging 42.1% in August to 1.33 million tons, driven by deepening global diesel shortages. Over the first eight months, diesel exports increased 5.9% to 4.84 million tons. Jet fuel shipments also posted strong growth, rising 41.4% year-over-year to 2.55 million tons in August. Gasoline exports, by contrast, fell 17.5% to 700,000 tons.
China’s domestic fuel inventory levels have begun declining, raising concerns about potential future export restrictions. Gasoline inventories at state-owned energy companies dropped 2.9% to their lowest level since 2022, while diesel stocks hit their lowest point in 15 months with a 2.4% weekly decrease. These inventory trends may ultimately necessitate renewed export curbs.
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