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China joins coordinated move to release oil reserves and lower global oil prices

SCMP, 25 Nov 2021
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China says it will join coordinated global efforts to release oil reserves. Describing the move as being “based on its own needs”, Beijing laid out its plans to tame worldwide market turbulence. The November 24, 2021, announcement nearly a week after the China-US virtual summit. US President Joe Biden raised the oil reserves issue with his Chinese counterpart Xi Jinping during their discussions on November 16.

Related story:
‘Based on our own needs’: China to join global oil reserve release

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