{"id":383042,"date":"2020-11-07T12:06:17","date_gmt":"2020-11-07T06:36:17","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=383042"},"modified":"2020-11-07T13:21:43","modified_gmt":"2020-11-07T07:51:43","slug":"oil-drops-below-38-on-surging-covid-19-and-fraught-us-election","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-drops-below-38-on-surging-covid-19-and-fraught-us-election\/","title":{"rendered":"Oil drops below $38 on surging Covid-19 and fraught US election"},"content":{"rendered":"<p>Oil fell below $38 a barrel amid a surging virus, dollar strength and a lack of clarity from the US election, but was still headed for a weekly gain on signs the OPEC+ alliance will delay easing production cuts.<\/p>\n<p>US crude futures dropped 2.2% Friday, but are still up around 6% for the week. Joe Biden appeared to be on the brink of claiming a victory in the presidential race, but he will probably have to deal with a split Congress. That will make it more difficult to pass a big anti-virus spending package or enact an agenda aimed at moving the US away from fossil fuels. Recounts and legal challenges may also lead to a prolonged period of uncertainty.<\/p>\n<p>Saudi Arabia and Russia, the leading OPEC+ countries, are pressing other members to extend current supply cuts into next year, instead of the current plan to ease in January. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil fell below $38 a barrel amid a surging virus, dollar strength and a lack of clarity from the US election, but was still headed for a weekly gain on signs the OPEC+ alliance will delay easing production cuts. US crude futures dropped 2.2% Friday, but are still up around 6% for the week. Joe Biden appeared to be on the brink of claiming a victory in the presidential race, but he will probably have to deal with a split Congress. That will make it more difficult to pass a big anti-virus spending package or enact an agenda aimed at [&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":[141,130,183],"tags":[],"class_list":["post-383042","post","type-post","status-publish","format-standard","hentry","category-hindustantimes","category-newspapers","category-oil-gas-hindustantimes"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/383042","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=383042"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/383042\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=383042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=383042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=383042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}