Chinese gasoline and diesel inventories are decreasing, potentially paving the way for export limitations, as detailed in a recent report by Bloomberg.
Data from Chinese commodity market research firm JLC International indicates that gasoline reserves held by state-owned energy firms fell by 2.9% last week. This decline has pushed gasoline inventories to their lowest point since 2022.
Similarly, diesel stocks have reached a 15-month low, following a 2.4% reduction over the past week, the report added. The tightening domestic market conditions are seen as increasing the likelihood of policy interventions regarding exports.