{"id":341315,"date":"2020-03-11T11:01:11","date_gmt":"2020-03-11T05:31:11","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=341315"},"modified":"2020-03-11T11:39:13","modified_gmt":"2020-03-11T06:09:13","slug":"oil-plunges-25-hit-by-erupting-saudi-arabia-russia-oil-price-war","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-plunges-25-hit-by-erupting-saudi-arabia-russia-oil-price-war\/","title":{"rendered":"Oil plunges 25%, hit by erupting Saudi Arabia-Russia oil price war"},"content":{"rendered":"<p>Crude prices suffered their biggest daily rout since the 1991 Gulf War on Monday as top producers Saudi Arabia and Russia began a price war that threatens to overwhelm global oil markets with supply. <\/p>\n<p>A nearly 25% slump in oil prices triggered panic selling and heavy losses on Wall Street&#8217;s main stock indexes as the rapid spread of coronavirus amplified fears of a global recession. <\/p>\n<p>Saudi Arabia and Russia both said they would raise production at the weekend after a three-year pact between them and other major oil producers to limit supply fell apart on Friday. <\/p>\n<p>Moscow had refused to support the Organization of the Petroleum Exporting Countries in making a deeper oil cut to cope with the substantial fall in demand caused by the impact of coronavirus on travel and economic activity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crude prices suffered their biggest daily rout since the 1991 Gulf War on Monday as top producers Saudi Arabia and Russia began a price war that threatens to overwhelm global oil markets with supply. A nearly 25% slump in oil prices triggered panic selling and heavy losses on Wall Street&#8217;s main stock indexes as the rapid spread of coronavirus amplified fears of a global recession. Saudi Arabia and Russia both said they would raise production at the weekend after a three-year pact between them and other major oil producers to limit supply fell apart on Friday. Moscow had refused 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-341315","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\/341315","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=341315"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341315\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=341315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=341315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=341315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}