{"id":346587,"date":"2020-04-14T09:29:31","date_gmt":"2020-04-14T03:59:31","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=346587"},"modified":"2020-04-14T09:32:26","modified_gmt":"2020-04-14T04:02:26","slug":"opec-deal-historic-yet-insufficient-oil-prices-to-fall-goldman-sachs","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/opec-deal-historic-yet-insufficient-oil-prices-to-fall-goldman-sachs\/","title":{"rendered":"OPEC+ deal &#8216;historic yet insufficient&#8217;, oil prices to fall: Goldman Sachs"},"content":{"rendered":"<p>After OPEC+ in a record oil deal agreed to slash global output by 9.7 million bpd, Goldman Sachs said that oil prices would continue to fall in the coming weeks. The company said that a &#8220;historic yet insufficient&#8221; deal by major oil producers to cut output is unlikely to offset a coronavirus-led demand rout. <\/p>\n<p>The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a grouping known as OPEC+, said they had agreed to reduce output by 9.7 million barrels per day (bpd) for May and June to stem a slump in prices. <\/p>\n<p>The bank saw downside risks to its short-term oil price forecast of around $20 per barrel for Brent but projected the global crude benchmark would outperform U.S. oil because OPEC+ producers&#8217; exports would likely fall, freeing up floating storage space.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After OPEC+ in a record oil deal agreed to slash global output by 9.7 million bpd, Goldman Sachs said that oil prices would continue to fall in the coming weeks. The company said that a &#8220;historic yet insufficient&#8221; deal by major oil producers to cut output is unlikely to offset a coronavirus-led demand rout. The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a grouping known as OPEC+, said they had agreed to reduce output by 9.7 million barrels per day (bpd) for May and June to stem a slump in prices. The bank saw downside risks 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":[135,130,169],"tags":[],"class_list":["post-346587","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\/346587","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=346587"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/346587\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=346587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=346587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=346587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}