China's May refined oil exports up 22% MoM on shipping fixture

Source: Mysteel Jun 04, 2026 10:59

China's refined oil exports rebounded about 22% month-on-month in May, though volumes stayed low as export controls remained in place. Despite attractive export margins, ongoing Middle East tensions and uncertainty over Strait of Hormuz shipments led China to prioritise domestic supply, with allocations subject to monthly approval. June exports are down 8% from May's planned volume, with controls set to continue. Some exporters have yet to finalise their plans.

According to OilChem's tracking of shipping fixture, China's refined oil exports showed a monthly rebound of around 22% in May, while the overall export volume remained low with export control still in place. In detail, China recorded a combined exports of refined oil at 0.83 million tonnes in May based

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