China’s state reserve bureau has said it is working on a release of crude oil reserves, The Guardian reported.
The National Food and Strategic Reserves Administration said it would disclose the details of the move on its website. A spokeswoman explained: “We are carrying out the work of releasing crude oil reserves. We will put out a statement on our website.”
Beijing declined to comment on the US’s invitation to participate in a joint release of oil.
Read the full report: The Guardian