China’s exports of refined products, including diesel, gasoline, aviation fuel, and marine fuel, rose 7.1% year on year to 5.34 million tons in July, according to customs data, maintaining the strong momentum from last month and reaching the highest monthly total since June 2024.

China has nearly doubled imports of Russia’s discounted Urals crude as India scales back purchases under U.S. pressure.

"According to this, China exported 820,000 tons of diesel and 930,000 tons of gasoline last month. For diesel, this was the largest monthly volume in 11 months, and for gasoline, it was the largest volume this year, along with March. Jet fuel exports amounted to just under 2 million tons, the highest level since March 2024."

China's refiners lifted their processing rates in July, but strong crude oil imports and domestic output meant there was still a surplus of more than half a million barrels per day (bpd) available for storage.

US tariffs aim to protect industry and raise revenue, but China benefits - buying discounted Russian crude and Brazilian soybeans - while US farmers warn of lasting damage.

A CBS News investigation reveals that China is still secretly buying Iranian oil and evading U.S. sanctions by having the oil transferred from ship to ship in the middle of the sea.

Treasury Secretary Scott Bessent said China’s dependence on Iranian and Russian oil is a key issue in upcoming trade talks.

China’s crude oil storage slowed sharply in July as refinery utilization rose, signaling stronger demand even as long-term growth faces pressure from EVs, LNG trucks, and economic headwinds.

China’s exports of refined oil products in July rose 7.1% from last year, according to customs data, maintaining the strong momentum from last month and recording the highest monthly total since June 2024.

New Delhi was facing the risk of even higher tariffs if Mr Trump’s summit in Alaska failed to end Russia’s war in Ukraine after the US treasury secretary Scott Bessent said Wednesday that “secondary tariffs could go up” if things don’t go well at the meeting.