Bessent: China Hoarding 1.3bn Barrels Oil

U.S. Treasury Secretary Scott Bessent said China is hoarding oil, holding a strategic reserve of about 1.2‑1.3 billion barrels.
He claimed China keeps buying oil while cutting exports, posing the biggest threat to Asian nations, not the U.S.
Bessent said he discussed the issue with Chinese officials and avoided confirming impact on President Donald Trump's planned Beijing visit at month‑end.