{"id":363377,"date":"2020-07-17T12:16:11","date_gmt":"2020-07-17T06:46:11","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=363377"},"modified":"2020-07-17T13:02:41","modified_gmt":"2020-07-17T07:32:41","slug":"opec-fears-second-coronavirus-wave-to-prolong-oil-inventory-overhang","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/opec-fears-second-coronavirus-wave-to-prolong-oil-inventory-overhang\/","title":{"rendered":"OPEC fears second coronavirus wave to prolong oil inventory overhang"},"content":{"rendered":"<p>OPEC fears its record oil cuts will fail to rebalance the market and solve the worst glut in history if a second wave of the Covid-19 pandemic undermines an economic recovery later this year, according to internal OPEC research seen by Reuters.<\/p>\n<p>OPEC, Russia and their allies, a group known as OPEC+, said they would ease record oil curbs from Aug. 1 citing a gradual recovery in demand as global lockdowns loosen up.<\/p>\n<p>The group expects oil demand to climb by 7 million barrels per day (bpd) in 2021 after falling 9 million bpd this year. OPEC wants to lift its output by 6 million bpd in 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OPEC fears its record oil cuts will fail to rebalance the market and solve the worst glut in history if a second wave of the Covid-19 pandemic undermines an economic recovery later this year, according to internal OPEC research seen by Reuters. OPEC, Russia and their allies, a group known as OPEC+, said they would ease record oil curbs from Aug. 1 citing a gradual recovery in demand as global lockdowns loosen up. The group expects oil demand to climb by 7 million barrels per day (bpd) in 2021 after falling 9 million bpd this year. OPEC wants to lift [&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-363377","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\/363377","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=363377"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/363377\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=363377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=363377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=363377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}