{"id":345717,"date":"2020-04-07T10:07:01","date_gmt":"2020-04-07T04:37:01","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=345717"},"modified":"2020-04-07T10:43:30","modified_gmt":"2020-04-07T05:13:30","slug":"opec-likely-to-cut-oil-production-only-if-us-joins-efforts-report","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/opec-likely-to-cut-oil-production-only-if-us-joins-efforts-report\/","title":{"rendered":"OPEC+ likely to cut oil production only if US joins efforts: Report"},"content":{"rendered":"<p>Major oil producers including Saudi Arabia and Russia are likely to agree to cut production at a Thursday meeting but only if the United States joins the effort, aimed at coping with the disastrous effect of the coronavirus on fuel demand, three OPEC+ sources told Reuters on Monday. <\/p>\n<p>Worldwide oil demand has dropped by roughly 30%, or about 30 million barrels a day, at the same time that Saudi Arabia and Russia have been flooding markets with extra supply. <\/p>\n<p>Last week, in response to a weeks-long market rout, the Organization of the Petroleum Exporting Countries and its allies including Russia, a group known as OPEC+, started talking about cutting production, but want other non-OPEC nations to participate, particularly the United States. &#8220;Without the U.S., no deal,&#8221; one of the sources said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major oil producers including Saudi Arabia and Russia are likely to agree to cut production at a Thursday meeting but only if the United States joins the effort, aimed at coping with the disastrous effect of the coronavirus on fuel demand, three OPEC+ sources told Reuters on Monday. Worldwide oil demand has dropped by roughly 30%, or about 30 million barrels a day, at the same time that Saudi Arabia and Russia have been flooding markets with extra supply. Last week, in response to a weeks-long market rout, the Organization of the Petroleum Exporting Countries and its allies including Russia, [&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-345717","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\/345717","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=345717"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/345717\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=345717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=345717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=345717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}