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

Though China has halted refined oil exports to ensure domestic supply after the Middle East conflict, the actual exports in March were basically flat compared with that in February with orders already secured before the policy suspension, which is expected to greatly impact the exports in April.

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