China Apr refined oil exports nearly halved on export control

China's April refined oil exports plunged to 0.68 million tonnes by shipping fixture due to supply disruptions in the Strait of Hormuz, despite strong export margins. May exports are scheduled at 1.85 million tonnes, but volumes are expected to remain low as shipments are limited to select Asia-Pacific countries. No additional export quotas have been approved yet.

According to OilChem's continuous tracking of the shipping fixture, China's exports of refined oil, namely gasoline, gasoil, and kerosene, totaled merely 0.68 million tonnes, which consisted of 0.13 million tonnes gasoline, roughly 80,000 tonnes gasoil, and 0.47 million tonnes kerosene, a collective contraction of 44% from exports in March