China's August refined fuel exports jump 12.7% as jet fuel hits record high

China's exports of refined oil products climbed 12.7% year-on-year in August, customs data released on Friday showed, with jet fuel shipments reaching a monthly record as Beijing continued to unwind restrictions imposed earlier in the year.

Total refined product exports — covering diesel, gasoline, jet fuel and marine fuel — stood at 6.01 million metric tons for the month. The increase follows a mid-March decision to curb exports of diesel, gasoline and jet fuel in order to protect domestic supplies amid risks to Middle Eastern supply routes. Those controls began to be relaxed from mid-July, and further easing is expected in September, allowing exporters to take advantage of stronger overseas margins.

Jet fuel led the gains, rising 41.4% year-on-year to 2.55 million tons, the highest monthly figure on record. Diesel exports climbed 42.1% to 1.33 million tons, the most since March 2024. Gasoline shipments, at 700,000 tons, were down 17.5% year-on-year but still marked the highest level since October last year.

Despite the August rebound, cumulative volumes for the first eight months remain weaker than a year earlier. Refined product exports totalled 34.24 million tons from January to August, a decline of 9.6% year-on-year. Jet fuel exports over the period fell 14.4% to 11.76 million tons, while gasoline exports dropped 57.4% to 2.42 million tons. Diesel was the exception, rising 5.9% to 4.84 million tons.

On the import side, liquefied natural gas arrivals fell 17.8% year-on-year in August to 5.16 million tons. For the first eight months, LNG imports were down 6.8% at 38.86 million tons.