Business & Finance
18 November 2021, 8:29 pm. 1 minute
Reuters was first with a pair of scoops that affected the oil market within hours of each other. First, Reuters reported exclusively on U.S. efforts to bring China, India, South Korea and Japan into a group that would simultaneously release oil supplies from their strategic reserves – a move widely seen as putting pressure on OPEC and its allies to do more to tame high oil prices and bring fuel costs lower. Just five hours later, Reuters broke the news that China, the world’s biggest importer of oil, was also considering a release of oil from its strategic reserves as a way of trying to bring down oil prices.
Oil prices fell on the news as traders weighed the effect of the potential moves.
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Commodities & Energy
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story