Beijing holds export quota volumes steady despite ongoing restrictions aimed at protecting domestic fuel supply.
China issued its second batch of refined fuel export quotas for 2026 on June 9, totaling 18 million metric tons. The allocation covers gasoline, diesel, and jet fuel, and goes primarily to state-owned refining giants Sinopec and CNPC (PetroChina).
The 18 million metric ton figure is essentially flat compared to the second batch issued the previous year. The first batch for 2026, released back in December 2025, came in slightly higher at 19 million metric tons. Combined, that’s 37 million metric tons in total quota allocation for the year so far.
Export restrictions have been in place since March 2026, implemented to prioritize domestic supply as internal demand fluctuates. In practice, that means China’s actual monthly refined fuel exports have been running at roughly 500,000 to 550,000 metric tons.
At that pace, annualized exports would land somewhere between 6 and 6.6 million metric tons. That’s a fraction of the combined 37 million metric tons in quotas issued.
Trade sources have indicated there won’t be an immediate surge in export volumes despite the fresh allocation.
State-owned refiners like Sinopec and CNPC dominate the quota allocation, which gives Beijing additional control over the process.
Traders and investors watching this space should focus less on the quota headline and more on the actual monthly export figures. The 500,000 to 550,000 metric ton monthly range has been the real operational reality, and any meaningful deviation from that band would be a more reliable signal of shifting policy intent than the quota announcements themselves.
