Foreign media: China has lifted the export restrictions on finished oil products for the remainder of July and allowed private refiner Zhejiang Petrochemical to resume exports after a suspension of more than four months, marking the world's largest refining nation gradually returning to normal following the temporary peace agreement between the U.S. and Iran.
The refineries plan to export approximately 30 million tons of gasoline, diesel, and aviation kerosene this month, close to the average level of the same period last year. Gasoline exports could rise from less than 40,000 tons to over 400,000 tons; diesel exports may increase from around 2 million tons to 6–7 million tons; and aviation kerosene exports could grow from 1.5 million tons to about 1.9 million tons. Export profits remain high at over RMB 1,000 per ton (approximately USD 147), but it remains unclear whether restrictions will be further relaxed in August.
Previously, China implemented export controls since March to mitigate the impact of the Iran conflict and ensure domestic supply, allowing only state-owned enterprises to apply for monthly export quotas.
Original source: toutiao.com/article/1870161645052928/
Disclaimer: The views expressed in this article are those of the author(s) and do not necessarily reflect the official position of the publisher.