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Market Chatter: China Refined Fuel Exports Expected to See Small Rise in June

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China's exports of refined fuel are expected to register only a small monthly rise next month, with Beijing likely to persist with restrictions on exports to protect domestic supply, Reuters reported Friday, citing three undisclosed sources.

In June, China's exports are projected to rise to about 550,000 metric tons or slightly higher to regions except Hong Kong, which compares with about 500,000 tons estimated for May, the report said.

Diesel and jet fuel are expected to account for the majority of this volume with exports of slightly more than 500,000 tons, with gasoline comprising the rest, the report said.

The list of recipient countries is still to be finalized, it added.

Meanwhile, Hong Kong is expected to receive about 800,000 metric tons of refined fuel from China in June, down from the projected 910,000 tons in May.

State oil firms now have to approach the Chinese government for permission to export cargoes on a monthly basis as the country navigates energy supply disruptions caused by the closure of the vital Strait of Hormuz amid Iranian threats.

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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