U.S. Asks China to Team Up on Oil

Over the past five years, China has amassed hundreds of millions of barrels in strategic petroleum reserves.

Now the U.S. wants China to work with it to coordinate releases of those barrels when needed to help ensure oil market stability.

U.S. Secretary of Energy Ernest Moniz said Wednesday during a trip to Beijing that China is willing to discuss a coordination agreement on the use of strategic petroleum reserves. Mr. Moniz said he expects both countries to hold “stronger” and more “active” discussions about that coordination in the coming year.

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Wayne Ma, The Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/qe3vIiJ8jEc/