China to sell state crude reserves in phases via public auction Top oil importer’s producer price inflation at 13-yr high in Aug Auctions could sell off 10-15 mln bbl of oil at a time – analyst Brent falls as much as 1.9% after announcement before rebounding China has released other commodity stocks in 2021 to cool prices BEIJING, Sept 9 (Reuters) – China’s state reserves administration said on Thursday it would release crude oil reserves to the market via public auction to ease the pressure of high feedstock costs on domestic refiners. The release, described as a first, will be made in phases and is mainly for integrated refining and chemical plants, the National Food and Strategic Reserves Administration said in a statement. That potentially rules out the participation of some […]