China To Resume October Fuel Exports After Holiday Halt

China is set to resume October refined fuel exports after a brief halt during its Golden Week holiday, four trade sources told Reuters on Friday. The resumption should ease pressure on tight global fuel markets.
China has approved October exports of diesel, gasoline and jet fuel combined at around 3.7 million metric tons, according to two industry sources. Beijing regulates fuel exports through a quota system and has recently vetted shipments month by month.
Beijing began curbing fuel exports in March to safeguard domestic supplies as the Iran war disrupted crude flows and refinery output. It relaxed controls between July and September, and August exports rebounded to 6.01 million tons — up 12.7 per cent year on year.
The pause had tightened diesel markets worldwide. Analysts say the restart will be watched closely, as domestic gasoline and diesel inventories in China have fallen to multi-year lows and refiners may prioritise home demand.
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