China Halts Diesel and Gasoline Exports Amid Global Oil Supply Disruptions
China has instructed its largest oil refiners to suspend exports of diesel and gasoline to ensure domestic supply stability. This decision comes in response to the ongoing conflict in the Strait of Hormuz, which has significantly disrupted global oil and gas supply chains. The conflict has led to a near halt in tanker traffic through the Strait, a critical chokepoint for global oil trade. As a result, oil producers in the region, including Saudi Arabia, are reducing output due to storage constraints. The International Energy Agency has described the situation as the largest supply disruption in the history of the global oil market. In response, members of the IEA have agreed to release over 400 million barrels of crude and oil products from emergency reserves to mitigate the impact. 
