Following a bipartisan consensus, the newly unveiled US funding legislation includes a provision barring China from acquiring oil from the Strategic Petroleum Reserve.

US funding bill blocks China from purchasing petroleum reserve oil

The US Energy Department said that it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million barrel release from the stockpile.

World Business Watch: US begins buying back oil for strategic petroleum reserve

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