{"id":341327,"date":"2020-03-11T11:07:50","date_gmt":"2020-03-11T05:37:50","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=341327"},"modified":"2020-03-11T11:43:25","modified_gmt":"2020-03-11T06:13:25","slug":"oil-prices-rise-for-second-day-amid-hopes-for-output-cut-by-us-producers","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-rise-for-second-day-amid-hopes-for-output-cut-by-us-producers\/","title":{"rendered":"Oil prices rise for second day amid hopes for output cut by US producers"},"content":{"rendered":"<p>Oil prices climbed for a second day on Wednesday, lifted by hopes that US producers will cut output, but gains were limited compared with Monday&#8217;s crash after Saudi Arabia and Russia triggered a price war. <\/p>\n<p>Brent crude futures rose $1.44, or 3.9%, to $38.66 a barrel by 0226 GMT, while US West Texas Intermediate (WTI) crude gained $1.12, or 3.3%, to $35.48 a barrel, following a jump of over 8% the previous day. <\/p>\n<p>&#8220;Expectations that U.S. shale oil producers will need to trim output helped improve the market sentiment,&#8221; said Satoru Yoshida, a commodity analyst with Rakuten Securities. <\/p>\n<p>Occidental Petroleum on Tuesday joined a growing list of hard-pressed North American oil producers slashing spending and drilling after crude prices slumped to their lowest levels in more than three years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices climbed for a second day on Wednesday, lifted by hopes that US producers will cut output, but gains were limited compared with Monday&#8217;s crash after Saudi Arabia and Russia triggered a price war. Brent crude futures rose $1.44, or 3.9%, to $38.66 a barrel by 0226 GMT, while US West Texas Intermediate (WTI) crude gained $1.12, or 3.3%, to $35.48 a barrel, following a jump of over 8% the previous day. &#8220;Expectations that U.S. shale oil producers will need to trim output helped improve the market sentiment,&#8221; said Satoru Yoshida, a commodity analyst with Rakuten Securities. Occidental Petroleum [&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-341327","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\/341327","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=341327"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341327\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=341327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=341327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=341327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}