{"id":347933,"date":"2020-04-23T10:35:23","date_gmt":"2020-04-23T05:05:23","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=347933"},"modified":"2020-04-23T10:41:07","modified_gmt":"2020-04-23T05:11:07","slug":"oil-hits-new-lows-as-as-coronavirus-crisis-hammers-demand","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-hits-new-lows-as-as-coronavirus-crisis-hammers-demand\/","title":{"rendered":"Oil hits new lows as as coronavirus crisis hammers demand"},"content":{"rendered":"<p>Oil slumped to less than $16 a barrel on Wednesday, hitting its lowest since 1999, with the market awash with excess supply as the economic fallout from the coronavirus pandemic hammers demand for fuels.<\/p>\n<p>A glut has been building since OPEC+, led by Saudi Arabia and Russia, failed to renew output cuts last month. OPEC+ agreed new curbs this month, but government lockdowns to contain the pandemic have cut fuel demand more steeply.<\/p>\n<p>Brent crude, which fell 24 per cent in the previous session, touched $15.98 a barrel, its lowest since June 1999. It was trading down 62 cents, or 3.2 per cent, at $18.71 by 0950 GMT. US West Texas Intermediate was down 60 cents, or 5.2 per cent, at $10.97.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil slumped to less than $16 a barrel on Wednesday, hitting its lowest since 1999, with the market awash with excess supply as the economic fallout from the coronavirus pandemic hammers demand for fuels. A glut has been building since OPEC+, led by Saudi Arabia and Russia, failed to renew output cuts last month. OPEC+ agreed new curbs this month, but government lockdowns to contain the pandemic have cut fuel demand more steeply. Brent crude, which fell 24 per cent in the previous session, touched $15.98 a barrel, its lowest since June 1999. It was trading down 62 cents, or [&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":[130],"tags":[],"class_list":["post-347933","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/347933","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=347933"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/347933\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=347933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=347933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=347933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}