ADVERTISEMENTChina, the world's top oil importer, last week banned fuel exports until at least the end of March, in an attempt to pre-empt domestic shortages, sources said, curbing exports that last year totalled $22 billion. Australia, Bangladesh and the Philippines are especially reliant on Chinese fuel supply and will have to cover their needs elsewhere. Beijing has long limited China's fuel exports with quotas, but an outright ban poses a new challenge and climbing prices already reflect that. Chinese state firms PetroChina and Unipec supply fuel to Bangladesh, although such cargoes can be delivered from wherever is economical. "More of India's transport fuel exports will divert towards Asia instead of the West such as Europe and the Americas," said Vortexa's head of Asia-Pacific analysis Ivan Mathews.

Source: The Telegraph March 17, 2026 14:21 UTC