"The US and China agreed to strengthen cooperation on construction and management of strategic oil stocks," said the statement from the US after the conclusion of the 3rd China-US Strategic Economic Dialogue, which was held in Beijing, according to the official Xinhua News Agency.
"Coordinated use of strategic petroleum reserves increases energy security for net oil-importing countries during times of significant supply disruption, " the statement said.
The announcement came as world crude prices remained near recent highs. US crude-oil futures surged to USD 94 per barrel on Wednesday in New York, the highest level in about two weeks, after news of a fall in US crude oil inventories.
Imports accounted for 66 percent of US domestic petroleum consumption last year, while the figure for China was 47 percent, which became a net importer of oil during the 1990s as its economy took off, Xinhua added.
Güncelleme Tarihi: 14 Aralık 2007, 11:47