{"id":342120,"date":"2020-03-17T10:31:07","date_gmt":"2020-03-17T05:01:07","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=342120"},"modified":"2020-03-17T11:08:09","modified_gmt":"2020-03-17T05:38:09","slug":"oil-slumps-below-30-as-coronavirus-spreads-opec-rancor-remains-elevated","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-slumps-below-30-as-coronavirus-spreads-opec-rancor-remains-elevated\/","title":{"rendered":"Oil slumps below $30 as coronavirus spreads, OPEC rancor remains elevated"},"content":{"rendered":"<p>Oil prices fell below $30 a barrel on Monday as the worldwide coronavirus outbreak worsened over the weekend, exacerbating fears that government lockdowns to contain the spread of the disease would spark a global recession. <\/p>\n<p>Top global oil producers Saudi Arabia and Russia, having failed to agree on a plan to curb supply as the fall in global economic activity destroys oil demand, and have turned on each other to start a price war. <\/p>\n<p>Saudi Aramco reiterated on Monday its plans to boost output to record levels to take a bigger share of the global market. Brent crude settled down $3.80, or 11.2%, to $30.05 a barrel. The international benchmark earlier fell to $29.52 a barrel, its lowest since January 2016 US West Texas Intermediate (WTI) crude fell $3.03, or 9.6%, to end at $28.70 a barrel, its lowest since February 2016.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell below $30 a barrel on Monday as the worldwide coronavirus outbreak worsened over the weekend, exacerbating fears that government lockdowns to contain the spread of the disease would spark a global recession. Top global oil producers Saudi Arabia and Russia, having failed to agree on a plan to curb supply as the fall in global economic activity destroys oil demand, and have turned on each other to start a price war. Saudi Aramco reiterated on Monday its plans to boost output to record levels to take a bigger share of the global market. Brent crude settled down [&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-342120","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\/342120","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=342120"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/342120\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=342120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=342120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=342120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}