China eases oil export limits while US diesel exports hit record high

China has lifted part of its fuel export restrictions, allowing state‑run refineries to ship up to 2.7 million tonnes of gasoline, diesel and jet fuel in August. The quota excludes shipments to Hong Kong and Macau and can be rolled over to September if not fully sold. The move reverses tighter controls imposed after the Middle‑East conflict disrupted Hormuz shipping and reflects rising domestic stockpiles.

In the United States, diesel exports reached a new peak, averaging 1.9 million barrels per day in early August, mainly to Europe where refineries face shortages. At the same time, U.S. strategic diesel reserves fell to the lowest seasonal level since 1996, raising concerns about domestic supply ahead of the winter heating season. Both countries are responding to a globally tight fuel market caused by Middle‑East tensions, Russian refinery disruptions, and limited Chinese export caps.