A Glance of China Oil Market 20260427

Weekly News

China refined oil exports flat in Mar and to greatly contract in Apr

Despite China cutting refined oil exports to ensure domestic supply post US-Iran conflict, the exports in March did not show much contraction as the orders were already executed in February, according to data from the General Administration of Customs of the People's Republic of China (GACC). GACC data showed that China's refined oil exports recorded around 2.46 million tonnes in March, a mild increase of 1.01% month-on-month (MoM) but down 28.27% year-on-year (YoY), among which the exports of gasoline and kerosene showed significant MoM declines. Read Full Story

China's March LPG imports down 11% , yet exports soar 87% YoY

In March 2026, despite a month-on-month rise of 6.83%, China's liquefied petroleum gas (LPG) imports declined by 11.28% year-on-year amid geopolitical disruptions and weaker domestic demand, while exports surged by 37.21% month-on-month and even 87.08% year-on-year against stronger re-export opportunities. According to the General Administration of Customs of China (GACC), in March, China imported 2,587,200 tonnes of LPG, up 6.83% month-on-month but down 11.28% year-on-year. Total LPG imports in the first quarter of 2026 stood at 7,430,600 tonnes, down 971,600 tonnes or 11.56% from the same period last year. Read Full Story

China Mar MTBE exports jump 52% MoM

The General Administration of Customs of the People's Republic of China (GACC) data show China's MTBE exports reached 879,700 tonnes in March 2026, up 299,900 tonnes or 51.73% from February. Cumulative exports for January-March totaled 1,954,300 tonnes, more than doubling (+118.93%) year-on-year. Net exports expanded to 879,500 tonnes, with month-on-month growth accelerating by 34.50 percentage points. However, with domestic prices picking up and arbitrage opportunities shrinking, April exports are forecast to fall to around 750,000 tonnes, down 14.74% month-on-month. Read Full Story