<div id="readability-page-1"><div><p>Beijing is reversing its curbs on refined fuel exports after halting shipments in the opening days of the U.S.-Iran conflict. This move suggests that Chinese domestic inventories are now at comfortable levels, allowing state refiners to reopen the export spigot, even as much of Asia remains gripped by a fuel shock caused by disrupted Gulf energy flows through the Hormuz chokepoint.</p><p>There was chatter earlier this week that China's state-owned refiners were applying for government permits to resume fuel exports in May. These include China Petrochemical (Sinopec Group) and China National Petroleum Corporation.</p><p><img width="500" height="274" src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/2026-04-30_12-18-39.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/2026-04-30_12-18-39.png"/></p><p>By late in the week, Bloomberg reported that state-owned refiners had received government approval to export 500,000 tons of fuel next month.</p><p>People familiar with the upcoming shipments said the one-off quota would allow gasoline, diesel, and jet fuel to be sent to neighboring Asian countries, providing relief amid a worsening fuel crunch.</p><p>They said these shipments will be loaded onto tankers and are likely destined for Vietnam, Laos, and other nearby nations.</p><p>China's U-turn on export curbs comes weeks after the International Monetary Fund, World Bank, and International Energy Agency urged countries to avoid panic hoarding of energy supplies, as JPMorgan analysts warned that Asia would face the most immediate impact from the Gulf energy shock.</p></div></div>

00857

00386

601857

600028

561760

563150

159731

561360

516570

159309

<p>Beijing is lifting its restrictions on refined fuel exports, allowing state refiners like Sinopec and China National Petroleum to resume shipments. This decision follows a period of halted exports due to the U.S.-Iran conflict and indicates that domestic fuel inventories are stable. The government has approved a one-time quota of 500,000 tons for export next month, aimed at alleviating the fuel crisis in Asia, particularly for countries like Vietnam and Laos. This move comes amid warnings from international financial institutions about the energy supply situation in the region.</p>

ZeroHedge

PETROCHINA

SINOPEC CORP

Sinopec Corp.

Bosera CSI Oil & Gas Resources Index ETF

Yinhua CSI Oil & Gas Resources ETF

ChinaAMC CSI Petrochemical Industry ETF

Guotai CSI Oil & Gas Industry ETF

E Fund CSI Petrochemical Industry ETF

China Universal CSI Oil & Gas Resources ETF

JPMorgan Chase

PetroCN HK SDR 1to2

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

China Reopens Fuel Export Spigot, Offering Relief To Asian Buyers