China Jun scheduled refined oil exports fall 8% MoM

China's May refined oil exports rose 14.6% month-on-month to 1.30 million tonnes, but remained low amid export controls. June exports are scheduled at 1.74 million tonnes, down 7.8% from May's schedules, with policy easing still unconfirmed. Market sources suggest state-owned refineries may export on behalf of loss-making independent refineries through external procurement.

According to data from the General Administration of Customs of the People's Republic of China (GACC), China's exports of refined oil, namely gasoline, gasoil, and kerosene, totaled 1.30 million tonnes in May, a mild increase of 14.62% from April. The over exports remained low due to lingering export control