{"id":339981,"date":"2020-03-02T12:17:41","date_gmt":"2020-03-02T06:47:41","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=339981"},"modified":"2020-03-02T12:34:31","modified_gmt":"2020-03-02T07:04:31","slug":"oil-bounces-from-multi-year-lows-as-hopes-of-opec-cut-stimulus-offset-virus-impact","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-bounces-from-multi-year-lows-as-hopes-of-opec-cut-stimulus-offset-virus-impact\/","title":{"rendered":"Oil bounces from multi-year lows as hopes of OPEC+ cut, stimulus offset virus impact"},"content":{"rendered":"<p>Oil prices pared losses after earlier hitting multi-year lows on Monday as hopes that a bigger than expected production cut from OPEC and stimulus from central banks could offset economic gloom from the coronavirus outbreak.<\/p>\n<p>Brent crude was at $50.32 a barrel, up 65 cents, or 1.3 per cent, by 0105 GMT, after earlier dropping to $48.40, the lowest since July 2017. US West Texas Intermediate crude hit a 14-month low of $43.32 a barrel, before recovering to $45.23, up 47 cents, or 1.1 per cent.<\/p>\n<p>Flight cancellations and travel bans by countries worldwide sparked fears about the global economy, leading to the biggest weekly stock market rout since the 2008 financial crisis last week. China&#8217;s factory activity also shrunk at the fastest pace ever in February, underscoring the colossal damage from the coronavirus outbreak on the world&#8217;s second-largest economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices pared losses after earlier hitting multi-year lows on Monday as hopes that a bigger than expected production cut from OPEC and stimulus from central banks could offset economic gloom from the coronavirus outbreak. Brent crude was at $50.32 a barrel, up 65 cents, or 1.3 per cent, by 0105 GMT, after earlier dropping to $48.40, the lowest since July 2017. US West Texas Intermediate crude hit a 14-month low of $43.32 a barrel, before recovering to $45.23, up 47 cents, or 1.1 per cent. Flight cancellations and travel bans by countries worldwide sparked fears about the global economy, [&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-339981","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/339981","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=339981"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/339981\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=339981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=339981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=339981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}