China halts October fuel exports as global diesel crunch deepens

Singapore, October 1 — Chinese refiners have suspended exports of refined fuel for October until further notice from Beijing, removing another source of diesel, gasoline and jet fuel from an already strained global market, Reuters reported, citing four people familiar with the matter. State major PetroChina cancelled most of its October gasoline and jet fuel cargoes, while Zhejiang Petrochemical scheduled no exports during the week-long National Day holiday; Beijing has yet to authorize October shipments beyond Hong Kong and Macau. China's commercial diesel and gasoil stocks sit about 20 million barrels below pre-war levels and gasoline about 9 million barrels short, per Kpler; Singapore gasoline prices rose 7.4% and diesel 3.1% on the news. The halt deepens a global diesel crunch already squeezed by the US-Israeli war on Iran since late February and Russia's diesel export ban through end-October.

Source: OilPrice.com (citing Reuters), October 1, 2026. https://oilprice.com/Latest-Energy-News/World-News/China-Halts-October-Fuel-Exports-as-Global-Diesel-Crunch-Deepens.html