{"id":341330,"date":"2020-03-11T11:08:26","date_gmt":"2020-03-11T05:38:26","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=341330"},"modified":"2020-03-11T11:43:59","modified_gmt":"2020-03-11T06:13:59","slug":"oil-prices-jump-8-on-stimulus-hopes-spending-cuts-by-us-producers","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-jump-8-on-stimulus-hopes-spending-cuts-by-us-producers\/","title":{"rendered":"Oil prices jump 8% on stimulus hopes, spending cuts by US producers"},"content":{"rendered":"<p>Oil prices jumped over 8% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying and US producers slashed spending in a move that could cut output. <\/p>\n<p>On Monday, US President Donald Trump pledged &#8220;major&#8221; steps to gird the US economy against the impact of the spreading coronavirus outbreak. Japan&#8217;s government said it planned to spend more than $4 billion in a second package of steps to cope with the virus. <\/p>\n<p>US shale producers, including Occidental Petroleum Corp , deepened spending cuts that could reduce production.<br \/>\n&#8220;There was almost an immediate response from US producers to cut spending that will likely result in diminished US oil output in the months ahead,&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices jumped over 8% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying and US producers slashed spending in a move that could cut output. On Monday, US President Donald Trump pledged &#8220;major&#8221; steps to gird the US economy against the impact of the spreading coronavirus outbreak. Japan&#8217;s government said it planned to spend more than $4 billion in a second package of steps to cope with the virus. US shale producers, including Occidental Petroleum Corp , deepened spending cuts that could reduce production. &#8220;There was [&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-341330","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\/341330","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=341330"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341330\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=341330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=341330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=341330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}