China boosts fuel exports in July

In July, China raised export quotas for refined fuel for state-owned companies, which will increase its exports to compensate for shortages caused by reduced production due to the war between the United States, Israel, and Iran. This followed prior reductions in exports since March to boost domestic supplies, with the export quota set at 800,000 metric tons for this month—higher than the estimated 600,000 tons. Despite the increase, the volumes remain less than 40% of last year's average monthly exports, and it is expected to impact regional product prices.

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