The world’s top oil importer, China, has started to release more than 20 million barrels of crude oil from its strategic reserve in a move seen as seeking to curb the recent oil price rally, Energy Intelligence reported this week, quoting trading sources. The reported release from the strategic petroleum reserve is also aimed at putting inflation under control.
Various market and trade sources told Energy Intelligence that China was about to release the equivalent of between 22 million barrels and over 29 million barrels, or between 3 million…China Taps Into Crude Reserves To Curb Oil Price Rally
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