BEIJING (Reuters) – China’s state reserve bureau said on Wednesday it is working on a release of crude oil reserves although it declined to comment on a U.S. request to the world’s top consuming nations to tap stockpiles to ease global energy prices.
The National Food and Strategic Reserves Administration told Reuters when asked to comment on the U.S. request that it would disclose the details of the move on its website.
“We are carrying out the work of releasing crude oil reserves. And for any details related to the releasing, we will put out a statement on our website,” a reserve bureau spokeswoman said.
China, the world’s biggest oil importer, rolled out its first public auction of state crude oil reserves to a select group of domestic refiners in September, aiming to stabilise energy prices.
Beijing also said earlier this month it would tap its state fuel reserves to tame the soaring diesel and gasoline prices.
(Reporting by Muyu Xu and Shivani Singh; Editing by Himani Sarkar and Stephen Coates)
