China’s refined oil product exports in May dropped by 23.6 per cent from the same period last year, customs data showed on Thursday, curbed by fuel export restrictions that came into effect in mid-March.
The refined oil exports, which include diesel, gasoline, aviation fuel and marine fuel, totalled 3.37 million tonnes in May, according to data from the General Administration of Customs.
Beijing started the fuel export restriction in mid-March to limit the impact of the Iran war on domestic supply, with designated volume exported to countries in Southeast Asia and other regions. The restriction also excluded exports to Hong Kong and Macau, as well as aviation fuel refuelling for international flights and bunker sales for shippers on international voyages.