#What are the latest refined fuel export quotas from China?
China has recently released its second batch of refined fuel export quotas for 2026 on June 9, with a total allocation of 18 million metric tons. This allocation includes gasoline, diesel, and jet fuel, primarily benefiting state-owned refining giants Sinopec and CNPC (PetroChina).
The 18 million metric tons figure remains essentially unchanged compared to the same batch released last year. The first batch for 2026, which was issued in December 2025, was slightly higher at 19 million metric tons. Thus far, the total quota for the year sums up to 37 million metric tons.
#Why are there export restrictions, and how does it impact actual exports?
Since March 2026, China has imposed export restrictions to prioritize domestic supply amid fluctuations in internal demand. As a result, the country’s actual monthly refined fuel exports have averaged around 500,000 to 550,000 metric tons. This monthly rate translates to an estimated annual export of between 6 and 6.6 million metric tons, significantly lower than the combined quota of 37 million metric tons that has been allocated this year.
#Will there be an immediate surge in export volumes?
Trade sources indicate that despite the recent allocation, an immediate increase in export volumes is unlikely. The quota allocation primarily favors state-owned refiners like Sinopec and CNPC, which grants Beijing enhanced control over the export process. For traders and investors in this sector, it is crucial to focus less on the overall quota figures and more on the actual monthly export numbers. The stable monthly range of 500,000 to 550,000 metric tons has been the real operational norm, and any significant deviation from this range could indicate a shift in governmental policy rather than the quota announcements themselves.