China's September refined fuel exports jump, diesel shipments hit three-year high

Customs data show that China's refined oil product exports jumped 19% month-on-month in September, reaching 7.16 million metric tons. Diesel shipments climbed dramatically to 1.85 million tons, the strongest level in more than three years, while gasoline exports fell slightly to 620,000 tons and jet fuel rose 16.7% to 1.94 million tons. Combined gasoline, diesel and jet fuel exports hit 4.41 million tons, up 56% from the same month a year earlier.

The surge follows a temporary export restriction imposed in mid-March, which was relaxed in mid-July as global markets tightened due to conflicts in the Middle East and Russia. Over the first nine months, China exported 41.4 million tons of refined products, a modest 3.7% decline year-on-year, and imported 5.61 million tons of LNG, down 1.4%.