Biden asks China to lower world oil prices

Joe Biden asked China to sell oil from reserves and help lower oil prices Xi Jinping asked China to use oil from its own reserves and thereby lower world prices, writes the South China Morning Post.

The proposal assumes that both countries will simultaneously use oil from their strategic reserves and thereby increase the supply on domestic markets.

It is noted that Xi Jinping announced his openness to proposals of this kind, but is not yet ready to take on specific obligations due to the need to study the country's domestic oil needs.

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