-- China's state-owned oil giants are set to resume exports of gasoline, diesel, and jet fuel as soon as May, a shift expected to alleviate a global supply crunch amid the ongoing Middle East conflict, the Financial Times reported on Tuesday, citing trading sources.
The country's largest refiners have applied for export permits for the coming month. The move signals a pivot away from the de facto export ban implemented at the start of the conflict, a policy introduced to protect supplies amid geopolitical volatility.
China was a dominant supplier of refined products across the Asia-Pacific before the outbreak of the conflict, shipping about 800,000 barrels per day, the report said, citing Kpler data. Beijing is a key supplier of refined products to Australia, Japan, Vietnam, the Philippines, and Bangladesh.
The world's second biggest customer is preparing to resume exports as early as May, with shipments expected to focus primarily on Asia, where supply shortages have become increasingly acute.
Asia has been hit hardest by the ongoing energy crunch, with regional refineries dependent on imports for about 80% of supply. The Middle East accounts for about half of those inflows, leaving the region particularly exposed to disruptions.
has reached out to the State Council Information Office for comments.
The country has already begun limited fuel sales to some neighboring countries on a humanitarian basis, underscoring its role as the only Asian economy with sufficient refining capacity to provide exports at scale.
Meanwhile, international trading houses said several state-owned Chinese refiners had recently been allocated new export quotas, signaling a broader restart of overseas shipments.
China has remained deeply cautious about commodity supply risks despite building record inventories ahead of the conflict, underscoring persistent concerns within Beijing about market stability.
Last month, authorities also tightened controls on certain fertilizer blends, adding to a broader pattern of supply management measures across key strategic commodities.
(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.)