<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>

中国石油股份

中国石油化工股份

中国石油

中国石化

博时中证油气资源ETF

油气资源

华夏中证石化产业ETF

国泰中证油气产业ETF

易方达中证石化产业ETF

汇添富中证油气资源ETF

<p>北京正在解除对成品油出口的限制，允许中石化和中国石油等国有炼油企业恢复发货。此决定是在因美伊冲突而暂停出口一段时间后做出的，表明国内燃料库存稳定。政府已批准下个月一次性出口配额为 50 万吨，旨在缓解亚洲，特别是越南和老挝等国的燃料危机。此举是在国际金融机构对该地区能源供应情况发出警告的背景下进行的</p>

China Reopens Fuel Export Spigot, Offering Relief To Asian Buyers

ZeroHedge

摩根大通

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

中国重新开放燃料出口渠道，为亚洲买家提供缓解