Foreign media: China has relaxed its refined oil export controls for the second consecutive month, temporarily approving 27 million tons of export quotas to refineries in August (excluding Hong Kong, Macao, and bonded aviation fuel). If Hong Kong, Macao, and bonded aviation fuel are included, the total could reach 360–370 million tons, exceeding both the 2025 average of 304 million tons and the planned 250 million tons for July.
Previously, China reduced exports significantly from March to June due to a sharp decline in crude oil imports caused by the Iran conflict, aiming to secure domestic supply; policy began to ease after the temporary agreement between the U.S. and Iran in July.
This round of quotas allocated 22 million tons to state-owned refineries and 5 million tons to private Zhejiang Shihua, allowing partial carryover into September. However, given tight timelines and ongoing uncertainties surrounding the Middle East situation, actual exports may fall short of the quotas. Domestic refinery throughput is expected to increase by 200,000–300,000 barrels per day compared to July’s nearly 13 million barrels per day.
Original source: toutiao.com/article/1872680146020364/
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