{"id":304216,"date":"2019-12-05T11:19:02","date_gmt":"2019-12-05T05:49:02","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=304216"},"modified":"2019-12-05T11:19:02","modified_gmt":"2019-12-05T05:49:02","slug":"oil-jumps-4-on-us-stockpiles-drop-further-opec-output-cuts-seen","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-jumps-4-on-us-stockpiles-drop-further-opec-output-cuts-seen\/","title":{"rendered":"Oil jumps 4% on US stockpiles drop; further OPEC output cuts seen"},"content":{"rendered":"<p>Oil prices surged 4% on Wednesday on expectations that OPEC and allied producers would extend production curbs, and as U.S. government data showed a large drop in domestic crude stockpiles.<\/p>\n<p>Brent crude futures were up $2.44, or 4%, at $63.26 a barrel by 11:09 ET (1609 GMT). U.S. West Texas Intermediate (WTI) crude futures were up $2.38, or 4.2%, at $58.48.<\/p>\n<p>The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, a group known as OPEC+, could approve deeper crude output cuts when they meet in Vienna this week.<\/p>\n<p>U.S. crude stocks fell by 4.9 million barrels in the week to Nov. 29 as refineries hiked output, the Energy Information Administration said, a much deeper draw than expected. Analysts had forecast a decrease of just 1.7 million barrels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices surged 4% on Wednesday on expectations that OPEC and allied producers would extend production curbs, and as U.S. government data showed a large drop in domestic crude stockpiles. Brent crude futures were up $2.44, or 4%, at $63.26 a barrel by 11:09 ET (1609 GMT). U.S. West Texas Intermediate (WTI) crude futures were up $2.38, or 4.2%, at $58.48. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, a group known as OPEC+, could approve deeper crude output cuts when they meet in Vienna this week. U.S. crude stocks fell by 4.9 million barrels in [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-304216","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/304216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=304216"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/304216\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=304216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=304216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=304216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}