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.

Market Impact

Oil prices fell on the news as traders weighed the effect of the potential moves.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Commodities & Energy

Regions: Global

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Major Global Story