{"id":340080,"date":"2020-03-03T10:31:36","date_gmt":"2020-03-03T05:01:36","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=340080"},"modified":"2020-03-03T10:49:24","modified_gmt":"2020-03-03T05:19:24","slug":"oil-bounces-from-multi-year-lows-as-hopes-of-opec-cut-offset-virus-impact","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-bounces-from-multi-year-lows-as-hopes-of-opec-cut-offset-virus-impact\/","title":{"rendered":"Oil bounces from multi-year lows as hopes of OPEC+ cut 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%, by 0105 GMT, after earlier dropping to $48.40, the lowest since July 2017. <\/p>\n<p>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%. <\/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%, 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%. Flight cancellations and travel bans by countries worldwide sparked fears about the global economy, leading to the biggest [&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-340080","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\/340080","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=340080"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/340080\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=340080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=340080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=340080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}