🔸 China Expresses Concern Over Supply of Crude Oil Following Intensification of Tensions in the Strait of Hormuz

China, following the renewed escalation of tensions and the U.S. move to revoke an exemption that had made it possible to sell Iranian oil, has expressed concern about the resumption of disruptions in the supply of crude oil.

Accordingly, based on statements from informed sources whose names have not been disclosed, the country has asked some of its major refineries to, “keep fuel production levels high,” with the aim of protecting domestic consumers from the consequences of the conflict in the Strait of Hormuz.

According to these sources, at least two major refineries have been asked to maintain or increase their operating rates and refining capacity.

This comes while China’s gasoline and diesel reserves are at a high level, and consumption of both types of fuel has also faced a decline due to structural trends.

At the start of the U.S. and Israel’s war against the Islamic Republic of Iran and the closure of the Strait of Hormuz, concerns about domestic access to fuel led China to limit the sale of gasoline, diesel, and jet fuel to foreign customers.