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Market Chatter: China Eases Some Oil Product Export Curbs

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China has withdrawn some curbs on the export of oil products that were introduced to ensure sufficient domestic supplies following the outbreak of the Iran war, Bloomberg reported Tuesday.

The government has conveyed to some state refiners its approval of the export of fuels like gasoline and diesel to a longer list of countries than the handful of neighbors that were exempted, the report said, citing undisclosed sources familiar with the matter.

The revised policy is expected to be effective for shipments loaded from July but overall volumes would stay within government-set quotas, the report said.

The removal of restrictions could help increase supplies to Asia, where some countries have faced fuel shortages, higher prices, fuel queues, and flight cancellations, the report added.

has reached out to China's National Energy Administration for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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