While Beijing lifted restrictions on the export of refined fuels this month amid rising global oil prices and ample national reserves, it also introduced compliance requirements for refiners — a cautious pivot aimed at protecting domestic inventories, according to three sources familiar with the matter.
“With the collapse of the temporary truce between Washington and Tehran, Beijing has adopted a more cautious stance on easing restrictions on fuel exports,” a person familiar with the matter said in an interview, speaking on condition of anonymity.
“Refiners now face dual requirements: they can only ship fuel under allocated quotas, while keeping their inventory levels above the end-February mark. Security of domestic consumption remains a top priority.”
The latest export quotas – covering refined products including gasoline, diesel and jet fuel – were mostly allocated to local state-owned refineries, the sources said.
“Since the second quarter of 2026, the National Development and Reform Commission and the Chinese Ministry of Commerce have tightened supervision on refined oil exports,” Fu wrote for Energy Intelligence, an independent provider of energy news and data.
