{"id":356557,"date":"2020-06-10T11:04:58","date_gmt":"2020-06-10T05:34:58","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=356557"},"modified":"2020-06-10T11:52:14","modified_gmt":"2020-06-10T06:22:14","slug":"crude-oil-prices-dip-on-oversupply-concerns-and-stronger-dollar","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/crude-oil-prices-dip-on-oversupply-concerns-and-stronger-dollar\/","title":{"rendered":"Crude oil prices dip on oversupply concerns and stronger dollar"},"content":{"rendered":"<p>LONDON: Oil prices fell on Tuesday, weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts.<\/p>\n<p>Brent crude was down 52 cents, or 1.3 per cent, at $40.28 a barrel by 1340 GMT. West Texas Intermediate (WTI) crude fell 27 cents, or 0.7 per cent, to $37.92.<\/p>\n<p>A &#8220;slightly stronger U.S. dollar &#8230; is weighing on crude prices. Also the prospect of higher production from Saudi Arabia, Kuwait, UAE and Oman in July is not helping prices,&#8221; said UBS analyst Giovanni Staunovo. <\/p>\n<p>The Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a grouping known as OPEC+, on Saturday agreed to extend record cuts of 9.7 million barrels per day (bpd) until the end of July.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON: Oil prices fell on Tuesday, weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts. Brent crude was down 52 cents, or 1.3 per cent, at $40.28 a barrel by 1340 GMT. West Texas Intermediate (WTI) crude fell 27 cents, or 0.7 per cent, to $37.92. A &#8220;slightly stronger U.S. dollar &#8230; is weighing on crude prices. Also the prospect of higher production from Saudi Arabia, Kuwait, UAE and Oman in July is not helping prices,&#8221; said UBS analyst Giovanni Staunovo. The Organization of the [&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":[130,191,136],"tags":[],"class_list":["post-356557","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/356557","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=356557"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/356557\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=356557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=356557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=356557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}