China will release oil from its reserves according to its needs, said a spokesman for the Ministry of Foreign Affairs on Wednesday (24), adding that the country is in close communication with oil producing and consuming countries.
The United States said on Tuesday it would release millions of barrels of oil from strategic reserves in coordination with China and other Asian nations to try to cool prices after OPEC+ producers repeatedly ignored calls for more oil production gross.
China’s National Food and Strategic Reserves Administration confirmed to Reuters last week that it was working on a release of oil supplies, but declined to comment on the US request.
Speaking at a daily press conference, Foreign Ministry spokesman Zhao Lijian again declined to comment on whether China is participating in the US-coordinated oil stockpile disclosures.
“The Chinese side will organize a release of crude oil from state reserves in accordance with its own real needs,” Zhao said, adding that it would publish relevant information without delay.
Zhao said China will maintain communication and cooperation to ensure the long-term stability of the oil market.
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