{"id":378956,"date":"2020-10-17T08:45:52","date_gmt":"2020-10-17T03:15:52","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=378956"},"modified":"2020-10-17T09:39:56","modified_gmt":"2020-10-17T04:09:56","slug":"oil-dips-on-prolonged-second-wave-of-covid-19-fears-of-more-supply","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-dips-on-prolonged-second-wave-of-covid-19-fears-of-more-supply\/","title":{"rendered":"Oil dips on prolonged second wave of Covid-19, fears of more supply"},"content":{"rendered":"<p>Oil prices edged lower on Friday, dragged down by concerns that a spike in Covid-19 cases in the United States and Europe will continue to drag on demand in two of the world&#8217;s biggest fuel-consuming regions. <\/p>\n<p>OPEC+, a grouping of the Organization of the Petroleum Exporting Countries and ally producers including Russia, fear a prolonged second wave of the pandemic and a jump in Libyan output could push the oil market into surplus next year, according to a confidential document seen by Reuters, a much gloomier outlook than just a month ago. <\/p>\n<p>Brent crude futures fell 23 cents to settle at $42.93 a barrel, and US West Texas Intermediate (WTI) crude futures dropped 8 cents to settle at $40.88 a barrel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices edged lower on Friday, dragged down by concerns that a spike in Covid-19 cases in the United States and Europe will continue to drag on demand in two of the world&#8217;s biggest fuel-consuming regions. OPEC+, a grouping of the Organization of the Petroleum Exporting Countries and ally producers including Russia, fear a prolonged second wave of the pandemic and a jump in Libyan output could push the oil market into surplus next year, according to a confidential document seen by Reuters, a much gloomier outlook than just a month ago. Brent crude futures fell 23 cents to settle [&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-378956","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\/378956","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=378956"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/378956\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=378956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=378956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=378956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}