{"id":304367,"date":"2019-12-06T10:21:50","date_gmt":"2019-12-06T04:51:50","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=304367"},"modified":"2019-12-06T10:57:57","modified_gmt":"2019-12-06T05:27:57","slug":"opec-allies-agree-to-deepen-oil-production-cuts-to-prevent-a-global-glut","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/opec-allies-agree-to-deepen-oil-production-cuts-to-prevent-a-global-glut\/","title":{"rendered":"OPEC, allies agree to deepen oil production cuts to prevent a global glut"},"content":{"rendered":"<p>OPEC and allies led by Russia on Thursday agreed one of the deepest output cuts this decade to prevent oversupply in a deal that will apply for an unexpectedly short period of the first three months of 2020. <\/p>\n<p>The Organization of the Petroleum Exporting Countries (OPEC) began a meeting to discuss policy in Vienna at 1630 GMT. On Friday, OPEC will meet with Russia and other producers, a group known as OPEC+. <\/p>\n<p>Existing supply curbs of 1.2 million barrels per day, aimed at supporting oil prices and preventing a global glut, are set to expire in March. <\/p>\n<p>Russian Energy Minister Alexander Novak said a panel of energy ministers including Saudi Arabia and Russia had recommended OPEC+ deepen the cuts by 500,000 bpd. A cut of 1.7 million bpd would amount to 1.7% of global supply.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OPEC and allies led by Russia on Thursday agreed one of the deepest output cuts this decade to prevent oversupply in a deal that will apply for an unexpectedly short period of the first three months of 2020. The Organization of the Petroleum Exporting Countries (OPEC) began a meeting to discuss policy in Vienna at 1630 GMT. On Friday, OPEC will meet with Russia and other producers, a group known as OPEC+. Existing supply curbs of 1.2 million barrels per day, aimed at supporting oil prices and preventing a global glut, are set to expire in March. Russian Energy Minister [&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":[135,130,169],"tags":[],"class_list":["post-304367","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/304367","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=304367"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/304367\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=304367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=304367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=304367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}