Reuters reports no change in OPEC’s output policy

Reuters was first to break news from OPEC’s meeting in Cairo on Nov 29 that discussed cuts in oil production. Reuters headline saying the meeting had ended with no change in output policy was almost 5 minutes ahead of Bloomberg and a minute ahead of Dow Jones. Reuters was also first with the other significant development of the meeting, comments from influential Saudi oil minister Ali al-Naimi that $75 a barrel was a fair price for oil. This was the first time in years that the world’s top exporter has identified a preferred level for the price of crude.