{"id":341454,"date":"2020-03-11T12:10:26","date_gmt":"2020-03-11T06:40:26","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=341454"},"modified":"2020-03-11T12:35:08","modified_gmt":"2020-03-11T07:05:08","slug":"oil-extends-gains-as-us-output-cut-hopes-grow","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-extends-gains-as-us-output-cut-hopes-grow\/","title":{"rendered":"Oil extends gains as US output cut hopes grow"},"content":{"rendered":"<p>Oil prices climbed for a second day on Wednesday as hopes US producers would cut output lent support, but gains were capped by growing doubts about Washington&#8217;s stimulus package to fight the coronavirus, which continues to spread globally.<\/p>\n<p>Brent crude futures rose $1.26, or 3.4 per cent, to $38.48 a barrel by 0418 GMT, while US West Texas Intermediate (WTI) crude gained $0.91, or 2.7 per cent to $35.27 a barrel. They have recouped nearly a half of the Monday&#8217;s 25 per cent loss, which was triggered by the clash of oil titans Saudi Arabia and Russia.<\/p>\n<p>\u201cExpectations that US shale oil producers will need to trim output helped improve the market sentiment,\u201d said Satoru Yoshida, a commodity analyst with Rakuten Securities. US shale producers, including Occidental Petroleum , deepened spending cuts that could reduce production 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 as hopes US producers would cut output lent support, but gains were capped by growing doubts about Washington&#8217;s stimulus package to fight the coronavirus, which continues to spread globally. Brent crude futures rose $1.26, or 3.4 per cent, to $38.48 a barrel by 0418 GMT, while US West Texas Intermediate (WTI) crude gained $0.91, or 2.7 per cent to $35.27 a barrel. They have recouped nearly a half of the Monday&#8217;s 25 per cent loss, which was triggered by the clash of oil titans Saudi Arabia and Russia. \u201cExpectations that US [&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-341454","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341454","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=341454"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341454\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=341454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=341454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=341454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}