Oil was steady near $40 a barrel as OPEC+ producers started supplying more crude to a global market where many countries are still struggling to contain the coronavirus.<\/p>\n
The Organization of Petroleum Exporting Countries and its allies will pump about 1.5 million barrels a day more this month than in July as they started to unwind their historic virus-driven output curbs, with Russia already having lifted its production slightly last month. At the same time, diesel sales in India were down 21% on the previous year in July, a sign of the stuttering demand recovery in one of the world\u2019s largest consumers.<\/p>\n
Oil has been stuck in a narrow band since June, with rising virus infections in many countries increasing concerns about a renewed hit to the global economy. It\u2019s a precarious time for producers to be adding more supply, with Royal Dutch Shell Plc and Exxon Mobil Corp. predicting there may not be a full demand recovery until next year.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil was steady near $40 a barrel as OPEC+ producers started supplying more crude to a global market where many countries are still struggling to contain the coronavirus. The Organization of Petroleum Exporting Countries and its allies will pump about 1.5 million barrels a day more this month than in July as they started to unwind their historic virus-driven output curbs, with Russia already having lifted its production slightly last month. At the same time, diesel sales in India were down 21% on the previous year in July, a sign of the stuttering demand recovery in one of the world\u2019s […]<\/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-366163","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\/366163","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=366163"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/366163\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=366163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=366163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=366163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}