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Market Chatter: China to Loosen Oil Export Restrictions Beginning in July

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China has relaxed restrictions on oil exports after it safeguarded its supply following the war in the Middle East, Bloomberg reported Tuesday, citing people familiar with the matter.

The Commerce Ministry already allowed state-owned refiners to export oil to a wider range of countries than initially allowed, beginning in July, the report said.

Sinopec (HKG:0386, SHA:600028), China's largest refiner, and the Commerce Ministry have not yet responded to requests for comment from.

(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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