China has just put a stop to all fuel exports, sending ripples through the regional market.
- Export suspension: Beijing announced an immediate halt to gasoline and diesel shipments, citing domestic supply concerns.
- Impact on Singapore: With China offline, Singapore’s fuel reserves have slipped to their lowest levels in recent months, raising worries for drivers and businesses.
- Pertamina’s response: Indonesia’s state oil company, Pertamina, said it is closely monitoring the situation and evaluating any needed adjustments to its own supply chain.
Authorities across Asia are now watching the market closely as the fallout unfolds.