China Could Cut Fuel Exports in October as Inventories Plunge

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China is likely to reduce its fuel exports in October as domestic gasoline and diesel inventories have dropped to multi-year lows, potentially tightening the global fuel market. Fuel exports had rebounded in August following lifted restrictions amid prior geopolitical tensions.

China could lower its fuel exports again in October, potentially tightening the global fuel market further, as domestic gasoline and diesel inventories have slumped to multi-year lows. China’s fuel exports recovered in August as refiners exported 6.01 million tons of petroleum products, up by 12.7% from a year earlier, after Beijing removed in mid-July restrictions on fuel exports that were in place at the peak of the Strait of Hormuz blockage.   The total volume of Chinese fuel exports exceeded pre-war levels last month, with jet fuel…