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U.S. Sold Nearly 6 Million Barrels of Oil From the Strategic Petroleum Reserve to China, Records Show

U.S. Sold Nearly 6 Million Barrels of Oil From the Strategic Petroleum Reserve to China, Records Show | 27 July 2022 | The Biden administration has sold nearly 6 million barrels of oil from the U.S. Strategic Petroleum Reserve to an entity tied to the Chinese Communist Party, records show. From September 2021 to July, the Department of Energy (DOE) has awarded three crude oil contracts with a combined value of roughly $464 million to Unipec America, the U.S. trading arm of Chinese state-owned oil company Sinopec, according to a review by The Epoch Times of the DOE documents. A Chinese firm with ties to Hunter Biden had invested in the national oil giant. The sale would tap 5.9 million barrels in total from the strategic reserve (SPR) to export to the Chinese firm. The latest contract, revealed on July 10, was for 950,000 barrels sold for around $113.5 million.