China sold 1 million barrels of reserve oil

China has sold about 1 million barrels of oil from its reservoirs on the international market, according to media reports.

“Trading companies purchased up to 1 million barrels through the Shanghai futures exchange,” Bloomberg quoted Free News as saying.

It is noted that we are talking about the sale of reserve oil.

Oil was supplied to customers who, in the absence of supplies from China, would have purchased raw materials in the Middle East or Africa.

China, in the first half of 2020, increased oil imports by 9.9% to 269 million tons, the state statistical office of China reported.

In March, China reported record purchases of oil from Russia. It was noted that China bought 1.6 million tons of Urals oil.

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Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor
Steve Cowan

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