Banning Oil Exports to Foreign Adversaries Act This bill requires the Department of Energy (DOE) to prohibit the export or sale of petroleum products (e.g., crude oil) from the Strategic Petroleum Reserve to (1) China, North Korea, Russia, Iran, Venezuela, Syria, and Cuba; and (2) any entity owned, controlled, or influenced by such countries or the Chinese Communist Party. However, DOE may issue a waiver of the prohibition if the export or sale of petroleum products is in the national security interests of the United States.