China halts most October fuel exports

Chinese refiners have halted oil-product exports to destinations beyond Hong Kong and Macau until further notice, according to four people briefed on the decision, as Beijing prioritizes domestic fuel supplies during an already tight market. The suspension began around the start of China’s weeklong Golden Week holiday on October 1, and it remains unclear whether exports will be authorized after the holiday ends on October 7. PetroChina cancelled several gasoline and jet-fuel cargoes planned for October, three of the people said. Most of the shipments had been arranged within the preceding two weeks. The reports also said another major refiner, Zhejiang Petrochemical Corp, did not schedule oil-product shipments during the holiday week. The companies and China’s National Development and Reform Commission did not immediately respond to requests for comment during the holiday, according to one report. The move follows a period in which Beijing eased export restrictions. Chinese customs data put August oil-product exports at 4.58 million metric tons. Separate trade estimates for September listed 1.