Major oil traders and refiners have been awarded contracts for the purchase of crude oil from the U.S. Strategic Petroleum Reserve (SPR), including the U.S. wholly-owned subsidiary of Unipec, the trading arm of China's oil giant Sinopec. Unipec America, Inc was awarded a contract for the purchase of nearly one million barrels, 950,000 barrels from the SPR, as part of the massive emergency oil release announced by President Joe Biden at the end of March this year. Back then, President Biden announced the release of 180 million barrels of oil over…
