{"id":304745,"date":"2019-12-09T11:34:10","date_gmt":"2019-12-09T06:04:10","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=304745"},"modified":"2019-12-09T11:50:54","modified_gmt":"2019-12-09T06:20:54","slug":"oil-near-12-week-high-after-saudi-arabia-surprise-with-output-curbs","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-near-12-week-high-after-saudi-arabia-surprise-with-output-curbs\/","title":{"rendered":"Oil near 12-week high after Saudi Arabia surprise with output curbs"},"content":{"rendered":"<p>SINGAPORE, SAUDI ARABIA : Oil traded near the highest level in almost 12 weeks after Saudi Arabia surprised the market Friday with a significant supply cut beyond what was agreed to with fellow OPEC+ members. <\/p>\n<p>Futures in New York edged lower after climbing 1.3% Friday to cap a 7.3% weekly advance, the most since mid-June. The kingdom voluntarily pledged to pump 400,000 barrels a day less than mandated by OPEC+, translating to total overall curbs for the group of 2.1 million barrels a day. <\/p>\n<p>Goldman Sachs Group Inc. raised its 2020 Brent forecast after the move, saying it was a shift to managing short-term physical imbalances rather than trying to correct long-term imbalances through open-ended commitments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE, SAUDI ARABIA : Oil traded near the highest level in almost 12 weeks after Saudi Arabia surprised the market Friday with a significant supply cut beyond what was agreed to with fellow OPEC+ members. Futures in New York edged lower after climbing 1.3% Friday to cap a 7.3% weekly advance, the most since mid-June. The kingdom voluntarily pledged to pump 400,000 barrels a day less than mandated by OPEC+, translating to total overall curbs for the group of 2.1 million barrels a day. Goldman Sachs Group Inc. raised its 2020 Brent forecast after the move, saying it was a [&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":[139,130,187],"tags":[],"class_list":["post-304745","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/304745","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=304745"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/304745\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=304745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=304745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=304745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}