{"id":376467,"date":"2020-10-03T08:54:46","date_gmt":"2020-10-03T03:24:46","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=376467"},"modified":"2020-10-03T09:44:58","modified_gmt":"2020-10-03T04:14:58","slug":"oil-prices-drop-3-on-weak-demand-outlook-and-higher-opec-supplies","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-drop-3-on-weak-demand-outlook-and-higher-opec-supplies\/","title":{"rendered":"Oil prices drop 3% on weak demand outlook and higher OPEC supplies"},"content":{"rendered":"<p>NEW YORK (Reuters) &#8211; Oil prices fell 3% on Thursday as rising coronavirus cases around the world dampened the demand outlook, and a rise in OPEC output last month also pressured prices. <\/p>\n<p>Brent crude futures fell $1.37, or 3.2%, to settle at $40.93 a barrel after dropping to a low of $39.92. U.S. West Texas Intermediate (WTI) crude futures ended down $1.50, or 3.7%, at $38.72 after sliding more than 6% to a session low of $37.61. <\/p>\n<p>&#8220;It has become evident that the virus has not been contained. Infection rates are going up, the global death toll has surpassed the 1 million mark and the world is becoming a gloomy place once again,&#8221; said PVM Oil analyst Tamas Varga.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK (Reuters) &#8211; Oil prices fell 3% on Thursday as rising coronavirus cases around the world dampened the demand outlook, and a rise in OPEC output last month also pressured prices. Brent crude futures fell $1.37, or 3.2%, to settle at $40.93 a barrel after dropping to a low of $39.92. U.S. West Texas Intermediate (WTI) crude futures ended down $1.50, or 3.7%, at $38.72 after sliding more than 6% to a session low of $37.61. &#8220;It has become evident that the virus has not been contained. Infection rates are going up, the global death toll has surpassed 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":[135,130,169],"tags":[],"class_list":["post-376467","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\/376467","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=376467"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/376467\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=376467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=376467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=376467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}