The Washington Free Beacon (WFB) has reported that the Joe Biden administration sold close to one million barrels from the Strategic Petroleum Reserve (SPR) to a Chinese state-controlled gas [.]
Last week, Reuters reported that over five million barrels-worth of crude from the Strategic Petroleum Reserve released by the Biden administration to help ease gas prices in the United States had instead been shipped to refineries in Europe, India and China.Some 950,000 of the oil released from the SPR to cope with spiraling gasoline prices may ha
The Biden administration has agreed to sell 950,000 barrels from the Strategic Petroleum Reserve to China. The state-owned firm, Sinopec, in 2015 received a $1.7 billion investment from Hunter.