Beijing tightens export curbs on refined oil: Report

China has tightened export curbs on refined oil products, according to a report on Thursday, as Beijing seeks to shield its economy from the war in the West Asia.

The world's second-largest economy is the top importer of crude oil, with its refining operations mainly serving the country's massive domestic market.

It also exports various refined oil products including gasoline, diesel and jet fuel that totalled 58 million tonnes last year, according to official customs statistics.


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However, because of the war, "Chinese oil refiners have begun cancelling agreed refined fuel export cargoes", Bloomberg News said, citing unidentified people familiar with the matter.

The latest instructions are "a step up" from last week's guidance to suspend shipments, which "had been understood as non-mandatory", according to the story. China is not a full member of the IEA and is therefore not obligated to participate in coordinated release.