{"id":369247,"date":"2020-08-22T09:35:28","date_gmt":"2020-08-22T04:05:28","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=369247"},"modified":"2020-08-22T10:19:53","modified_gmt":"2020-08-22T04:49:53","slug":"oil-climbs-for-third-straight-week-buoyed-by-producers-holding-back-output-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-climbs-for-third-straight-week-buoyed-by-producers-holding-back-output-2\/","title":{"rendered":"Oil climbs for third straight week, buoyed by producers holding back output"},"content":{"rendered":"<p>MELBOURNE (Reuters) &#8211; Oil prices rose in early trade on Friday, on track for a third straight week of gains, buoyed by major oil producers&#8217; efforts to hold back output amid concerns about the economic recovery from the coronavirus pandemic. <\/p>\n<p>U.S. West Texas Intermediate (WTI) crude futures inched up 8 cents, or 0.2%, to $42.90 at 0158 GMT, on course for a 2% rise for the week. <\/p>\n<p>Brent crude futures rose 16 cents, or 0.4%, to $44.07, heading for a weekly rise around 0.5%. <\/p>\n<p>Both benchmark contracts fell around 1% on Thursday on economic concerns after weekly U.S. jobless claims came in higher than expected. <\/p>\n<p>Meanwhile, an internal report by the Organization of the Petroleum Exporting Countries and allies, showed the group known as OPEC+ was focused on ensuring<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MELBOURNE (Reuters) &#8211; Oil prices rose in early trade on Friday, on track for a third straight week of gains, buoyed by major oil producers&#8217; efforts to hold back output amid concerns about the economic recovery from the coronavirus pandemic. U.S. West Texas Intermediate (WTI) crude futures inched up 8 cents, or 0.2%, to $42.90 at 0158 GMT, on course for a 2% rise for the week. Brent crude futures rose 16 cents, or 0.4%, to $44.07, heading for a weekly rise around 0.5%. Both benchmark contracts fell around 1% on Thursday on economic concerns after weekly U.S. jobless claims [&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":[135,130,169],"tags":[],"class_list":["post-369247","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/369247","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=369247"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/369247\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=369247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=369247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=369247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}