Key facts
- China exported 6.01 million tons of refined fuels in August, up 12.7% from a year ago.
- Diesel exports increased 42.1% in August to 1.33 million tons.
- Jet fuel exports rose 41.4% in August to 2.55 million tons.
- Gasoline exports fell 17.5% in August to 700,000 tons.
- Overall refined fuel exports for the first eight months of 2025 are down 9.6% year-on-year.
- China's diesel inventories are at a 15-month low.
China's refined fuel exports surged in August, with diesel shipments seeing a significant increase amid a deepening global diesel shortage. According to Chinese customs data cited by Reuters, total refined fuel exports reached 6.01 million tons, a 12.7% rise compared to the previous year. This volume surpassed pre-war levels, driven by a substantial jump in diesel and jet fuel shipments.
Diesel exports alone climbed 42.1% in August to 1.33 million tons, contributing to a 5.9% increase for the first eight months of 2025. Jet fuel exports also saw a strong annual rise of 41.4% to 2.55 million tons. Gasoline exports, however, declined by 17.5% to 700,000 tons in August.
Despite the export surge, overall refined fuel exports for the first eight months of 2025 were down 9.6% year-on-year. This was attributed to earlier fuel export curbs imposed by the Chinese government in response to a crude oil supply crunch stemming from the Middle East war. The ban, implemented in early March, was largely lifted, allowing for increased shipments, particularly to Southeast Asia.
Meanwhile, domestic inventories in China are dwindling. Gasoline inventories at state-owned energy majors fell 2.9% last week to their lowest level since 2022, according to JLC International. Diesel inventories are at a 15-month low, having dipped 2.4% last week, raising concerns that Beijing might reimpose export restrictions.