Chinese customs data released on Saturday showed that China's exports of refined oil products fell by 18.3 percent in June compared to the same period last year, due to restrictions on fuel exports that came into effect in mid-March.

Total exports of refined oil products, which include diesel, gasoline, jet fuel, and marine fuel, reached 4.36 million metric tons in June, according to data from the General Administration of Customs. However, export volumes in June rose by 29.4 percent compared to May.

Beijing had imposed restrictions on fuel exports in mid-March to limit the impact of the Iran war on domestic supplies, with specific quantities exported to countries in Southeast Asia and other regions.

The restrictions exempted exports to Hong Kong and Macau, as well as refueling aircraft for international flights and selling marine fuel for international voyages.

In the first half of 2026, China exported 23.59 million tons of refined oil products, a decrease of 13.2 percent from the previous year.

The data also showed that imports of liquefied natural gas rose by 8.3 percent year-on-year to reach 5.68 million tons in June. In the first half of 2026, China imported 28.35 million tons of liquefied natural gas, down 5.6 percent from the previous year.

Crude oil production

China's crude oil output in June fell to its lowest level since the start of the coronavirus pandemic, as the Iran war and rising prices curbed demand in the world's second-largest economy.

According to data from the National Bureau of Statistics, released last Wednesday, refinery output fell by 17.7 percent compared to the same period last year, reaching 51.24 million metric tons, or the equivalent of 12.47 million barrels per day.

China's domestic crude oil output in June also fell by 0.5 percent year-on-year, reaching 18.12 million tons.

The production rate in June was the lowest since March 2020, during the COVID-19 pandemic, and was similar to levels recorded in 2018.