{"id":341493,"date":"2020-03-11T12:27:35","date_gmt":"2020-03-11T06:57:35","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=341493"},"modified":"2020-03-11T12:57:27","modified_gmt":"2020-03-11T07:27:27","slug":"oil-crashes-after-saudi-launches-price-war","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-crashes-after-saudi-launches-price-war\/","title":{"rendered":"Oil crashes after Saudi launches price war"},"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 USD 32 a barrel and Brent crude to about $36 a barrel.<\/p>\n<p>Saudi Arabia launched an all-out oil war 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 \u2014 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 USD 32 a barrel and Brent crude to about $36 a barrel. Saudi Arabia launched an all-out oil war 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":[130,211,144],"tags":[],"class_list":["post-341493","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-pioneer","category-the-pioneer"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341493","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=341493"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341493\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=341493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=341493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=341493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}