{"id":304606,"date":"2019-12-07T11:19:59","date_gmt":"2019-12-07T05:49:59","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=304606"},"modified":"2019-12-07T11:39:45","modified_gmt":"2019-12-07T06:09:45","slug":"opec-agrees-to-cut-output-target-by-500000-barrels-a-day","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/opec-agrees-to-cut-output-target-by-500000-barrels-a-day\/","title":{"rendered":"OPEC+ agrees to cut output target by 500,000 barrels a day"},"content":{"rendered":"<p>OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia, which has long carried an outsized share of the burden.<\/p>\n<p>The group, which pumps more than half the world\u2019s oil, agreed in Vienna on Friday to reduce its output target by 500,000 barrels a day, said delegates, bringing it in line with recent production levels.<\/p>\n<p>Under the new deal, the size of the OPEC+ daily production cuts target will be increased from 1.2 million barrels to 1.7 million barrels, compared to a baseline of October 2018, according to ministers, including Russia\u2019s Alexander Novak and Iran\u2019s Bijan Namdar Zanganeh. That doesn\u2019t require the group as a whole to pump less oil, since it was already implementing an additional cut of that size in October 2019. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia, which has long carried an outsized share of the burden. The group, which pumps more than half the world\u2019s oil, agreed in Vienna on Friday to reduce its output target by 500,000 barrels a day, said delegates, bringing it in line with recent production levels. Under the new deal, the size of the OPEC+ daily production cuts target will be increased from 1.2 million barrels to 1.7 million barrels, compared to a baseline of October 2018, according to ministers, including Russia\u2019s Alexander [&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],"tags":[],"class_list":["post-304606","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/304606","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=304606"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/304606\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=304606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=304606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=304606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}