'Special Report' spotlights energy matters: China adds massive amounts to oil inventories

The United States Energy Department is planning to add 3 million barrels of oil to its reserves after allowing them to decline while China has been adding to its stockpiles.

In November 2021, President Biden announced the U.S. and other countries would release millions of barrels from their oil stockpiles. At the time, even China had said it would tap its reserves. Bret Baier is the Chief Political Anchor of Fox News Channel, and the Anchor and Executive Editor of "Special Report with Bret Baier." He is the author of five presidential biographies. His fifth biography, "To Rescue the Constitution: George Washington and the Fragile American Experiment" is out October 10, 2023. 

"They all agreed to release additional oil from the reserves, and China may be doing so as well," Biden said in December 2021.