US Sold Nearly 6 Million Barrels of Oil Reserves to China, Records Show

Records show the Biden administration has sold nearly 6 million barrels of oil from the U.S. strategic reserve to an entity with ties to the Chinese Communist Party.

From September 2021 to July 2022, the Department of Energy has awarded three crude oil contracts worth over $460 million to Unipec America. Unipec is the U.S. trading arm of Chinese state-owned oil company Sinopec.

China in Focus Weekly Newsletter
Find out what's really going on in China
By registering for the newsletter, you agree to the Privacy Policy.