{"id":346660,"date":"2020-04-14T11:46:01","date_gmt":"2020-04-14T06:16:01","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=346660"},"modified":"2020-04-14T11:46:01","modified_gmt":"2020-04-14T06:16:01","slug":"oil-prices-up-2-after-output-cut-but-demand-worries-weigh","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-up-2-after-output-cut-but-demand-worries-weigh\/","title":{"rendered":"Oil prices up 2% after output cut, but demand worries weigh"},"content":{"rendered":"<p>NEW YORK: Oil prices gained 2% on Monday following a record deal among oil producers to cut the rapid rise in supply, a muted impact on the market as the coronavirus pandemic hammers demand.<\/p>\n<p>The Organization of the Petroleum Exporting Countries, along with Russia and other countries &#8211; known as OPEC+ &#8211; agreed at the weekend to cut output by 9.7 million barrels per day (bpd) in May and June, representing about 10% of global supply.<\/p>\n<p>In addition, several other countries will reduce output as well, in an estimated total cut of about 19.5 million bpd.<\/p>\n<p>Brent futures rose 63 cents, or 2.0%, to $32.11 a barrel by 12:36 p.m. EDT (1636 GMT), while U.S. West Texas Intermediate (WTI) crude rose 42 cents, or 1.9%, to $23.18.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK: Oil prices gained 2% on Monday following a record deal among oil producers to cut the rapid rise in supply, a muted impact on the market as the coronavirus pandemic hammers demand. The Organization of the Petroleum Exporting Countries, along with Russia and other countries &#8211; known as OPEC+ &#8211; agreed at the weekend to cut output by 9.7 million barrels per day (bpd) in May and June, representing about 10% of global supply. In addition, several other countries will reduce output as well, in an estimated total cut of about 19.5 million bpd. Brent futures rose 63 [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-346660","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/346660","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\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=346660"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/346660\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=346660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=346660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=346660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}