China eases fuel export limits again
China has eased its restrictions on refined fuel exports for the second consecutive month in August, aiming to restore flows to pre-Iranian war levels. Beijing granted temporary approvals to refineries to export approximately 2.7 million tons of fuel, with the possibility of transferring some of these quotas to September, bringing the total export program to between 3.6 and 3.7 million tons, surpassing the 2025 annual average of 3.04 million tons. While China relaxed its restrictions following a sharp ban between March and June in response to domestic supply shortages caused by the Iranian conflict, expectations indicate that the refineries may export less than the allocated quotas due to uncertainty surrounding oil supplies amid the Middle East conflict.
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