{"id":350398,"date":"2020-05-08T12:10:07","date_gmt":"2020-05-08T06:40:07","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=350398"},"modified":"2020-05-08T12:10:07","modified_gmt":"2020-05-08T06:40:07","slug":"brent-crude-rises-above-31-as-saudi-arabia-hikes-selling-prices","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/brent-crude-rises-above-31-as-saudi-arabia-hikes-selling-prices\/","title":{"rendered":"Brent crude rises above $31 as Saudi Arabia hikes selling prices"},"content":{"rendered":"<p>Oil jumped after Saudi Arabia raised prices for refiners globally.<\/p>\n<p>Futures in London added as much as 7.1%, moving beyond $31 a barrel, while U.S. crude futures rose 10%. State-run Saudi Aramco, which earlier this year initiated a price war by offering massive discounts on crude, has raised prices on all the grades for June. The move comes as the kingdom and its OPEC+ partners embark on sharp production cuts in a bid to rebalance a glutted market.<\/p>\n<p>\u201cThe higher prices by Aramco suggest a recovery of demand and a hint that OPEC+ actually started to cut production in their aim to balance the market,&#8221; said Hans van Cleef, senior energy economist at ABN Amro.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil jumped after Saudi Arabia raised prices for refiners globally. Futures in London added as much as 7.1%, moving beyond $31 a barrel, while U.S. crude futures rose 10%. State-run Saudi Aramco, which earlier this year initiated a price war by offering massive discounts on crude, has raised prices on all the grades for June. The move comes as the kingdom and its OPEC+ partners embark on sharp production cuts in a bid to rebalance a glutted market. \u201cThe higher prices by Aramco suggest a recovery of demand and a hint that OPEC+ actually started to cut production in their [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-350398","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/350398","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=350398"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/350398\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=350398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=350398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=350398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}