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US President Donald Trump is urging oil-hungry nations, and China in particular, to fill their tankers with American crude instead.
The US naval blockade has halted the Strait of Hormuz's 20 million barrels per day oil flow.
KEY POINTS
- US oil export capacity is only about 4 million barrels per day, far below Hormuz volumes.
- Most Asian refineries cannot process US crude without costly modifications or blending arrangements.
- US refined petroleum product exports hit a record 7.9 million barrels per day in late March.
- The crisis is accelerating investment in US Gulf Coast oil export infrastructure for future capacity.
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