China confirms first release of national crude reserves

Government will offer 7.38 million barrels of nation's strategic oil stockpile to domestic bidders, with more likely to follow

SPR released: CNOOC's oil storage facilities in Guangdong province
SPR released: CNOOC's oil storage facilities in Guangdong provincePhoto: REUTERS/SCANPIX
Published 15 September 2021, 01:54Updated 15 September 2021, 10:11