China Halts Fuel Exports Indefinitely; PetroChina Cancels October Cargoes

Key Facts

1Chinese refiners have suspended fuel exports indefinitely to protect domestic supply.

2PetroChina has canceled several gasoline and jet fuel cargoes previously scheduled for October shipment.

Chinese refiners have suspended fuel exports indefinitely to protect domestic supply. Reuters reported that PetroChina has canceled several gasoline and jet fuel cargoes previously scheduled for October 2026 shipment. The move follows a slump in domestic gasoline and diesel inventories to seven-year lows, prompting state-owned majors to prioritize internal requirements.

PCCYF closed at $1.2 on September 30, 2026, after reaching a day high of $1.21. The suspension of overseas shipments aims to ease domestic supply constraints and mirrors similar restrictions implemented earlier this year during the Strait of Hormuz crisis.