China’s State Reserve Bureau Reportedly Releasing Crude Oil

State Reserve agency of China is facilitating the release of crude oil, earlier U.S. made request to some countries including China for coordinated strategic reserve release

State reserve bureau of China on Thursday is reportedly facilitating release of crude oil reserve, according to Reuters. However, the agency declined to comment if the move was amid request from U.S. to release strategic reserves.

The National Food and Strategic Reserves administration told Reuters, it will disclose all details on its website on the latest development.

A spokesperson of the agency told Reuters, “We are carrying out the work of releasing crude oil reserves. And for any details related to the releasing, we will put out a statement on our website,”.

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