{"id":347154,"date":"2020-04-17T12:07:09","date_gmt":"2020-04-17T06:37:09","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=347154"},"modified":"2020-04-17T12:07:09","modified_gmt":"2020-04-17T06:37:09","slug":"real-oil-market-is-sinking-and-opec-deal-cant-rescue-it","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/real-oil-market-is-sinking-and-opec-deal-cant-rescue-it\/","title":{"rendered":"Real oil market is sinking and Opec+ deal can\u2019t rescue it"},"content":{"rendered":"<p>The physical oil market, where millions of barrels of real cargoes are traded each day, needed Opec+\u2019s historic cuts to global crude production months ago.<\/p>\n<p>On Sunday, producer nations pledged to limit output by an unprecedented 10 per cent of global supply. While there\u2019s skepticism the cuts will prove deep enough &#8212; demand has plunged by far more &#8212; a more pressing issue is one of timing: the real market, the one that underpins headline prices, has a huge glut and the output curbs won\u2019t even begin until May. Before then, it\u2019s pump at will so the curbs won\u2019t really affect physical oil supply for months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The physical oil market, where millions of barrels of real cargoes are traded each day, needed Opec+\u2019s historic cuts to global crude production months ago. On Sunday, producer nations pledged to limit output by an unprecedented 10 per cent of global supply. While there\u2019s skepticism the cuts will prove deep enough &#8212; demand has plunged by far more &#8212; a more pressing issue is one of timing: the real market, the one that underpins headline prices, has a huge glut and the output curbs won\u2019t even begin until May. Before then, it\u2019s pump at will so the curbs won\u2019t really [&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-347154","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\/347154","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=347154"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/347154\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=347154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=347154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=347154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}