China Jan refined oil exports down 9% MoM

China's refined oil exports fell 9.19% month-on-month in January 2026 to 1.68 million tonnes by shipping fixture, led by a sharp drop in kerosene shipments due to Asian oversupply, while gasoline exports continued despite negative margins as refineries sought to ease domestic inventory pressure.

According to OilChem's tracking of the shipping fixture, China's exports of refined oil, including gasoline, gasoil, and kerosene, totaled 1.68 million tonnes in January 2026, a drop of 9.19% from the previous month primarily due to contracting kerosene exports amidst oversupply in the Asian market. The January exports by shipping