A Glance of China Oil Market 20260126

On the demand end, the end-market players are yet to start intensive stockpiling, and the overall demand is likely to stay flat. The gasoil consumption is anticipated to stay on the downtrend in the traditional seasonal low.

A Glance of China Oil Market 20260126

Weekly News

China's Dec refined oil exports down 14% MoM

According to data from General Administration of Customs of the People's Republic of China (GACC), China's exports of refined oil, including gasoline, gasoil, and kerosene, totaled 2.98 million tonnes in December 2025, falling 13.77% month-on-month (MoM) but rising 53.04% year-on-year (YoY), with the monthly fall partly attributed to depleting export quotas. In detail, the exports of gasoline fell 44.52% MoM at around 0.34 million tonnes in December, a drop of 41.88% from the same period last year amidst reduced domestic production, which promoted the refineries to prioritize meeting domestic demand. Read Full Story

China biodiesel exports surge over 55% MoM in Dec, annual imports almost double

China's biodiesel foreign trade expanded markedly in December 2025. The General Administration of Customs of the People's Republic of China (GACC) figures show biodiesel imports grew 39.28% month-on-month, while its exports jumped 55.02% month-on-month to 104,725 tonnes. Its cumulative annual imports reached 118,900 tonnes, a sharp increase of 95.38% year-on-year, while cumulative exports stood at 916,500 tonnes, down 17.56% year-on-year. The rise in biodiesel imports was fueled by entrepôt trade via Hong Kong and growing domestic bunkering demand, with Hong Kong accounting for 99.03% of imports. Read Full Story

China alkylate prices hit three-year low on weak demand

China's alkylate market hit a three-year low in January 2026 mainly due to the soft demand, different from previous years' January-February strong market. As of January 21, the average price stood at Yuan 7,130/tonne, a decrease of Yuan 1,190/t or 15% compared to Yuan 8,320/t during the same period in 2025, marking a three-year low, OilChem's data showed. On the cost side, thanks to the expansion of upstream ethylene capacity, by-product C4 resources flowed into the market, steadily lifting domestic supply of alkylate's feedstock. However, feedstock markets were diversified, with tight supply in northern China but ample supply in the south. Read Full Story