China Halts October Fuel Exports as Global Diesel Crunch Deepens

AI Summary

China’s major refiners have suspended most refined-fuel exports for October, prioritizing domestic supply as global fuel markets face a diesel shortage. The move removes expected gasoline, jet fuel, and diesel cargoes from international markets, including cancellations by PetroChina and Zhejiang Petrochemical.

China’s major refiners have suspended most refined fuel exports for October as Beijing prioritizes domestic supply security, removing another source of diesel, gasoline and jet fuel from an already severely constrained global market. PetroChina has cancelled several gasoline and jet fuel cargoes scheduled for October, while Zhejiang Petrochemical did not schedule exports during China’s week-long National Day holiday, Reuters reported, citing four people familiar with the matter. Beijing has yet to authorize October exports outside Hong…