{"id":347928,"date":"2020-04-23T10:32:20","date_gmt":"2020-04-23T05:02:20","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=347928"},"modified":"2020-04-23T10:40:20","modified_gmt":"2020-04-23T05:10:20","slug":"the-oil-market-is-in-for-a-violent-shake-out","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/the-oil-market-is-in-for-a-violent-shake-out\/","title":{"rendered":"The oil market is in for a violent shake-out"},"content":{"rendered":"<p>The crisis in the US oil market following the historic collapse of WTI May contract price into negative territory (minus $36 a barrel) at the threshold of contract expiry is something that was waiting to happen, given the market fundamentals. <\/p>\n<p>The US continues to pump out humongous quantities of oil (12.3 million barrels a day) even as storage installations are overflowing and demand growth is non-existent. Although the US President played a catalytic role in bringing Saudi Arabia and Russia together for cutting output, the US itself has not participated in the OPEC+ decision to cut output.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The crisis in the US oil market following the historic collapse of WTI May contract price into negative territory (minus $36 a barrel) at the threshold of contract expiry is something that was waiting to happen, given the market fundamentals. The US continues to pump out humongous quantities of oil (12.3 million barrels a day) even as storage installations are overflowing and demand growth is non-existent. Although the US President played a catalytic role in bringing Saudi Arabia and Russia together for cutting output, the US itself has not participated in the OPEC+ decision to cut output.<\/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],"tags":[],"class_list":["post-347928","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/347928","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=347928"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/347928\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=347928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=347928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=347928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}