{"id":340558,"date":"2020-03-05T11:59:19","date_gmt":"2020-03-05T06:29:19","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=340558"},"modified":"2020-03-05T12:25:17","modified_gmt":"2020-03-05T06:55:17","slug":"goldman-cuts-brent-outlook-says-opec-cuts-may-not-prevent-oil-glut","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/goldman-cuts-brent-outlook-says-opec-cuts-may-not-prevent-oil-glut\/","title":{"rendered":"Goldman cuts Brent outlook, says OPEC+ cuts may not prevent oil glut"},"content":{"rendered":"<p>Goldman Sachs lowered its Brent price outlook, saying OPEC+ output cuts and interest rate reductions by central banks would not be enough to stem a large inventory build up caused by declining demand from the coronavirus outbreak.<\/p>\n<p>Brent prices could fall to $45 per barrel in April, from an earlier estimate of $53, before gradually recovering to $60 by year-end, the Wall Street bank said in a note on Tuesday. In its second downward revision in less than a month, the bank lowered its third- and fourth-quarter Brent price forecasts to $53 and $59 a barrel respectively, from $60 and $65 previously.<\/p>\n<p>Oil prices rose on Wednesday after a panel of the Organisation of Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, recommended cutting oil output by an extra 1 million barrels per day (bpd) on Tuesday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Goldman Sachs lowered its Brent price outlook, saying OPEC+ output cuts and interest rate reductions by central banks would not be enough to stem a large inventory build up caused by declining demand from the coronavirus outbreak. Brent prices could fall to $45 per barrel in April, from an earlier estimate of $53, before gradually recovering to $60 by year-end, the Wall Street bank said in a note on Tuesday. In its second downward revision in less than a month, the bank lowered its third- and fourth-quarter Brent price forecasts to $53 and $59 a barrel respectively, from $60 and [&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-340558","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/340558","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=340558"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/340558\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=340558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=340558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=340558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}