{"id":347824,"date":"2020-04-21T11:36:21","date_gmt":"2020-04-21T06:06:21","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=347824"},"modified":"2020-04-21T12:37:50","modified_gmt":"2020-04-21T07:07:50","slug":"the-oil-markets-six-week-plunge","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/the-oil-markets-six-week-plunge\/","title":{"rendered":"The oil market&#8217;s six-week plunge"},"content":{"rendered":"<p>Oil prices fell into negative territory in New York trading on Monday for the first time ever, with the coronavirus pandemic slashing demand and creating a supply glut. <\/p>\n<p>Here we look back at a tumultuous six-week period for black gold. <\/p>\n<p>At the start of a two-day meeting of the OPEC oil-producing nations and their &#8220;OPEC+&#8221; partners including Russia, the price of crude falls below $50 dollars a barrel for the first time since 2017. <\/p>\n<p>For comparison, it reached a record $145 a barrel in 2008. <\/p>\n<p>The price of oil drops by 10 percent after the OPEC talks break up without agreement, Russia refusing to reduce their oil output in order to boost the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell into negative territory in New York trading on Monday for the first time ever, with the coronavirus pandemic slashing demand and creating a supply glut. Here we look back at a tumultuous six-week period for black gold. At the start of a two-day meeting of the OPEC oil-producing nations and their &#8220;OPEC+&#8221; partners including Russia, the price of crude falls below $50 dollars a barrel for the first time since 2017. For comparison, it reached a record $145 a barrel in 2008. The price of oil drops by 10 percent after the OPEC talks break up without [&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":[146,130,177],"tags":[],"class_list":["post-347824","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/347824","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=347824"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/347824\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=347824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=347824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=347824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}