China's Mar refined oil exports plummet 24% MoM

China's refined oil exports contracted sharply in March due to Middle Eastdriven shipping disruptions, though April outflows are expected to recover modestly as domestic supply remains secure and export margins hit record highs.

China's refined oil exports showed palpable contractions in March amidst the ongoing conflict in the Middle East that has disrupted shipping through the Strait of Hormuz. To ensure domestic supply, the exporters have scaled back their March exports, prioritizing the domestic market needs. In detail, China's refined oil exports dropped