{"id":305560,"date":"2019-12-13T11:47:09","date_gmt":"2019-12-13T06:17:09","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=305560"},"modified":"2019-12-13T12:01:15","modified_gmt":"2019-12-13T06:31:15","slug":"oil-market-still-unbalanced-despite-opec-cuts-iea","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-market-still-unbalanced-despite-opec-cuts-iea\/","title":{"rendered":"Oil market still unbalanced despite OPEC+ cuts: IEA"},"content":{"rendered":"<p>Additional cuts by the powerful OPEC group of oil producers and its allies may not be enough to eliminate a glut of crude on the global market, the IEA warned on Thursday.<\/p>\n<p>Meanwhile, energy consumption by China is bounding higher \u2014 a signal that the country\u2019s economy may be in better shape than widely thought as its trade war with the United States rumbles on.<\/p>\n<p>Last Friday, OPEC and its allies reached a deal to cut production by 5,00,000 barrels per day in a bid to support prices which have been under pressure from abundant reserves and weak global economic growth.<\/p>\n<p>While Saudi Arabia, OPEC\u2019s largest producer, agreed a further voluntary reduction of 4,00,000 barrels per day, the International Energy Agency said that most of that cut had already been implemented already.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Additional cuts by the powerful OPEC group of oil producers and its allies may not be enough to eliminate a glut of crude on the global market, the IEA warned on Thursday. Meanwhile, energy consumption by China is bounding higher \u2014 a signal that the country\u2019s economy may be in better shape than widely thought as its trade war with the United States rumbles on. Last Friday, OPEC and its allies reached a deal to cut production by 5,00,000 barrels per day in a bid to support prices which have been under pressure from abundant reserves and weak global economic [&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":[130,211,144],"tags":[],"class_list":["post-305560","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-pioneer","category-the-pioneer"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/305560","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=305560"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/305560\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=305560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=305560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=305560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}