{"id":373442,"date":"2020-09-14T10:26:39","date_gmt":"2020-09-14T04:56:39","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=373442"},"modified":"2020-09-14T10:35:46","modified_gmt":"2020-09-14T05:05:46","slug":"oil-set-for-first-back-to-back-weekly-losses-since-aprils-rout","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-set-for-first-back-to-back-weekly-losses-since-aprils-rout\/","title":{"rendered":"Oil set for first back-to-back weekly losses since April\u2019s rout"},"content":{"rendered":"<p>Oil headed for its first back-to-back weekly losses since April\u2019s price rout, driven by a sharp slump in risk sentiment earlier in the week and a patchy demand recovery.<\/p>\n<p>Futures in London fluctuated around $40 a barrel on Friday, down about 7% for the week. In recent weeks traders have been turning their attention to data showing the United Arab Emirates has been regularly exceeding its OPEC+ quota since July. While the recovery in road-fuel demand is gaining speed in Asia and Europe, American figures continue to lag.<\/p>\n<p>With a mixed demand picture, rising US crude stockpiles and the OPEC+ alliance gradually adding more supply, some market players are considering storing crude at sea again. There\u2019s been a chorus of bleaker views on consumption this week, with S&amp;P Global Platts saying oil demand is unlikely to get back to 2019 levels before 2022. A retreat in global stocks has also weighed on energy markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil headed for its first back-to-back weekly losses since April\u2019s price rout, driven by a sharp slump in risk sentiment earlier in the week and a patchy demand recovery. Futures in London fluctuated around $40 a barrel on Friday, down about 7% for the week. In recent weeks traders have been turning their attention to data showing the United Arab Emirates has been regularly exceeding its OPEC+ quota since July. While the recovery in road-fuel demand is gaining speed in Asia and Europe, American figures continue to lag. With a mixed demand picture, rising US crude stockpiles and the OPEC+ [&hellip;]<\/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-373442","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\/373442","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=373442"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/373442\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=373442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=373442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=373442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}