Is the release of strategic oil reserves • Table.Briefings

In light of the horrendous oil price, the US has initiated an internationally coordinated release of strategic reserves. China has also shown itself open to the idea. But Beijing has yet to make a firm commitment. At the same time, it is uncertain whether the Chinese oil will even find buyers quickly.

Things are moving pretty fast now. Several big countries have decided to tap their strategic oil reserves because of the current power crisis. The US is about to open the oil taps: Around 50 million barrels are expected to flow out of reserves in the next few months. India, Japan, and the UK have also announced an opening of their reserves. With that, the world is now looking to China. An announcement is expected from Beijing over the next few days. The US government had talked about an internationally coordinated release measure.

Is the release of strategic oil reserves imminent?

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