{"id":340956,"date":"2020-03-09T10:29:00","date_gmt":"2020-03-09T04:59:00","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=340956"},"modified":"2020-03-09T10:48:33","modified_gmt":"2020-03-09T05:18:33","slug":"oil-crashes-on-saudis-biggest-price-war-in-20-yrs-brent-drops-to-33-bbl","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-crashes-on-saudis-biggest-price-war-in-20-yrs-brent-drops-to-33-bbl\/","title":{"rendered":"Oil crashes on Saudi&#8217;s biggest price war in 20 yrs; Brent drops to $33\/bbl"},"content":{"rendered":"<p>Oil plunged over 20 per cent Monday after top exporter Saudi Arabia launched a price war in response to a failure by leading producers to strike a deal to support energy markets. <\/p>\n<p>The two main contracts both lost about a fifth of their value in morning Asian trade, with West Texas Intermediate sliding to about $32 a barrel and Brent crude to about $33 a barrel. <\/p>\n<p>Saudi Arabia launched an all-out oil war on Sunday with the biggest cut in its prices in the last 20 years, Bloomberg News reported, after a failure by cartel OPEC and its allies to clinch a deal to cut production. <\/p>\n<p>A meeting of main producers was expected to agree to deeper cuts to counter the impact of the new coronavirus &#8212; but Moscow refused to tighten supply.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil plunged over 20 per cent Monday after top exporter Saudi Arabia launched a price war in response to a failure by leading producers to strike a deal to support energy markets. The two main contracts both lost about a fifth of their value in morning Asian trade, with West Texas Intermediate sliding to about $32 a barrel and Brent crude to about $33 a barrel. Saudi Arabia launched an all-out oil war on Sunday with the biggest cut in its prices in the last 20 years, Bloomberg News reported, after a failure by cartel OPEC and its allies to [&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-340956","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\/340956","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=340956"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/340956\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=340956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=340956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=340956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}