{"id":356148,"date":"2020-06-08T11:36:03","date_gmt":"2020-06-08T06:06:03","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=356148"},"modified":"2020-06-08T12:00:20","modified_gmt":"2020-06-08T06:30:20","slug":"oil-prices-inch-higher-1-month-supply-cut-extension-falls-short-of-market-hopes","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-inch-higher-1-month-supply-cut-extension-falls-short-of-market-hopes\/","title":{"rendered":"Oil prices inch higher, 1 month supply cut extension falls short of market hopes"},"content":{"rendered":"<p>Oil crept higher on Monday but gave up big early gains as optimism over major crude producers&#8217; deal to extend record output cuts gave way to disappointment that the accord didn&#8217;t extend beyond the end of July. <\/p>\n<p>Brent crude had climbed as high as $43.41 a barrel but by 0239 GMT was trading up just 21 cents, or 0.5%, at $42.51. U.S. West Texas Intermediate (WTI) crude rose 2 cents, or 0.05%, to $39.57 a barrel, after earlier touching $40.44 earlier. Both hit their highest since March 6. <\/p>\n<p>Since the start of April Brent has nearly doubled, propped up by the unprecedented production cut of 9.7 million barrels per day &#8211; nearly 10% of global supplies &#8211; agreed in April by the Organization of the Petroleum Exporting Countries (OPEC), Russia and other allies, collectively known as OPEC+.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil crept higher on Monday but gave up big early gains as optimism over major crude producers&#8217; deal to extend record output cuts gave way to disappointment that the accord didn&#8217;t extend beyond the end of July. Brent crude had climbed as high as $43.41 a barrel but by 0239 GMT was trading up just 21 cents, or 0.5%, at $42.51. U.S. West Texas Intermediate (WTI) crude rose 2 cents, or 0.05%, to $39.57 a barrel, after earlier touching $40.44 earlier. Both hit their highest since March 6. Since the start of April Brent has nearly doubled, propped up by [&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-356148","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\/356148","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=356148"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/356148\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=356148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=356148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=356148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}