U.S. Funding Bill to Block China from Strategic Petroleum Reserve Purchases

The bipartisan measure aims to prevent oil sales to China's government, reflecting heightened U.S.-China geopolitical tensions.

A new U.S. government funding bill includes a provision to prohibit China from purchasing oil from the Strategic Petroleum Reserve.
The measure reflects bipartisan support for a tougher stance on China amid growing geopolitical tensions.
China has been building its own strategic petroleum reserves, aggressively buying cheap oil during market lows.
U.S. firms were the primary buyers of oil from the Strategic Petroleum Reserve, with only 2.5% of sales going to Chinese firms between 2017 and February 2023.
The provision aims to prevent sales from the Strategic Petroleum Reserve from benefiting China, viewed as the U.S.'s most serious competitor.