ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Commodities

China and U.S. strike back against soaring commodity prices

Beijing unleashes oil reserves while Washington cracks down on food processors

Pumpjacks extract oil at a field in China. The Chinese government will auction 7.38 million barrels of oil from strategic reserves to ease rising petroleum prices.   © Reuters

TOKYO/WASHINGTON/BEIJING -- A surge in commodity prices has worried both China and the U.S., pushing each side to intensify efforts to combat the trend.

For the first time ever, the Chinese government will release part of the country's strategic oil reserves into the market, conducting a bid for 7.38 million barrels of petroleum on Sept. 24.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more