China's crude oil and refined oil export volume has dropped sharply since Jan. 1, 2004 when China reduced or even abolished export tax rebates for crude oil and refined oil exports in order to appropriately limit exports of resources in short supply. 

Statistics show that crude oil export volume and value dropped 32.5% and 20.3% respectively to 5.49 million tons and 1.32 billion USD; refined oil exports decreased 17.1% to 11.46 million tons, and its value increased 6.3% to 3.96 billion USD. Gas export declined 28.3% to 5.41 million tons. The Export volume of kerosene and other fuel oils increased 9.5% and 140% respectively to 2.05 million tons and 1.82 million tons.

Before the 1990s, crude oil exports had been a key mechanism for earning foreign exchange. With increasing oil demand for economic development, China has become a net crude oil importer since the mid-1990s, and crude oil export has gradually declined.

Currently, China is exporting a small quantity of crude oil mainly to abide by its long-term trade agreements with other countries, and refined oil export is mainly for the oil processing trade.

Source: Chinaview.com