May 22, 2026 [Reuters]- China is expected to see only a slight uptick in refined fuel exports in June from May, three trade sources familiar with the matter ​said, as Beijing is set to maintain export curbs for a fourth ‌month to safeguard domestic supply.

June exports to regions other than Hong Kong are estimated at around 550,000 metric tons or slightly more, two of the sources added, compared with about 500,000 tons ​expected for May.

State oil firms are now required to seek government approval on ​a monthly basis on every cargo they export, said the two ⁠people and a separate source, as top oil importer China copes with disruptions in ​crude supply caused by the near-closure of the Strait of Hormuz due to the ​Iran war.

The National Development and Reform Commission and Ministry of Commerce did not immediately respond to requests for comment.

Details on which countries will receive fuel from China are still being finalised, according to ​the two people. In April, China exported small quantities of gasoline, diesel and jet fuel ​to Southeast Asia and other regions including Australia.

Of overall exports excluding Hong Kong for June, diesel and ‌jet ⁠fuel will account for the majority of slightly more than 500,000 tons, with the remainder gasoline, one of the sources said.

Fuel supplies to Hong Kong are expected at roughly 800,000 metric tons, the same source added, compared with May estimates at around 910,000 ​tons.

China’s current export regime ​marks a change ⁠from recent years, when the government typically issued a second batch of refined fuel export quotas around April or May after ​a first set of quotas in December the year before.

For this ​year, Beijing issued ⁠only one batch, in December, of a quota totalling 19 million metric tons.

Meanwhile, export margins remained lucrative for diesel and gasoline, estimated by two China-based industry sources at nearly ⁠3,000 yuan ($441.11) ​and 4,000 yuan ($588.14) per ton respectively.