China's oil market and refining industry participants are expecting the process Beijing will employ to release its crude oil reserves to be similar with that for other commodities, as they wait for more details of the state's crude open auction sales, which could be released as early as the end of this week. The country's National Food and Strategic Reserves Administration announced Sept. 9 that it will conduct a crude reserve auction, part of Beijing's serial state reserve release, following the same for cotton, grain, copper, aluminum and zinc. The crude reserve release aims to ease rising feedstock pressure on the ... (full story)