Petroleum product sales may be cut by 90 percent: proposal Move would come in retaliation for late-November missile test China has signaled it’s ready to back another round of United Nations sanctions that will slash exports of fuel to North Korea, according to people familiar with the matter. The UN Security Council is set to vote on Friday at 1 p.m. in New York on the fourth resolution against North Korea in 13 months. It comes in response to a Nov. 28 missile test that leader Kim Jong Un said proved he could deliver a nuclear bomb to the U.S. If approved, the resolution would cut deliveries of petroleum products, including diesel and kerosene, by almost 90 percent, to the equivalent of 500,000 barrels. That’s a further reduction from a September resolution that reduced petroleum product sales to 2 million barrels annually starting Oct. 1, down from 4.5 million […]