{"id":346564,"date":"2020-04-13T12:01:42","date_gmt":"2020-04-13T06:31:42","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=346564"},"modified":"2020-04-13T13:01:29","modified_gmt":"2020-04-13T07:31:29","slug":"oil-rallies-as-top-producers-agree-massive-output-cuts","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-rallies-as-top-producers-agree-massive-output-cuts\/","title":{"rendered":"Oil rallies as top producers agree massive output cuts"},"content":{"rendered":"<p>Oil prices rallied Monday after top producers agreed to slash output and shore up coronavirus-ravaged energy markets, but some analysts were concerned the cuts did not go far enough.<\/p>\n<p>US benchmark West Texas Intermediate was up 7.7 percent at USD 24.52 a barrel in Asian trade while Brent crude, the international benchmark, put on 5 percent to USD 33.08 a barrel.<\/p>\n<p>OPEC producers dominated by Saudi Arabia and allies led by Russia met via videoconference for an hour Sunday in a last effort to cement a deal struck early Friday.<\/p>\n<p>It still required Mexico&#8217;s agreement and in a compromise reached Sunday they agreed to a cut of 9.7 million barrels per day from May, according to its Energy Minister Rocio Nahle, down slightly from 10 million barrels per day envisioned earlier.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rallied Monday after top producers agreed to slash output and shore up coronavirus-ravaged energy markets, but some analysts were concerned the cuts did not go far enough. US benchmark West Texas Intermediate was up 7.7 percent at USD 24.52 a barrel in Asian trade while Brent crude, the international benchmark, put on 5 percent to USD 33.08 a barrel. OPEC producers dominated by Saudi Arabia and allies led by Russia met via videoconference for an hour Sunday in a last effort to cement a deal struck early Friday. It still required Mexico&#8217;s agreement and in a compromise reached [&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-346564","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\/346564","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=346564"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/346564\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=346564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=346564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=346564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}