{"id":387748,"date":"2020-12-04T11:23:43","date_gmt":"2020-12-04T05:53:43","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=387748"},"modified":"2020-12-04T11:23:43","modified_gmt":"2020-12-04T05:53:43","slug":"oil-trades-near-eight-month-high-after-opec-compromise-deal","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-trades-near-eight-month-high-after-opec-compromise-deal\/","title":{"rendered":"Oil trades near eight-month high after OPEC+ compromise deal"},"content":{"rendered":"<p>Oil traded near an eight-month high after OPEC+ reached a compromise deal to gradually taper output cuts from the start of next year.<\/p>\n<p>Futures edged higher in New York after rising 0.8% on Thursday and are set to eke out a modest fifth weekly gain. The group will start adding 500,000 barrels a day of crude to the market in January and ministers will then hold monthly meetings to decide on the next steps. The deal avoided a breakdown of OPEC+ unity after a tense split between Saudi Arabia and the United Arab Emirates.<\/p>\n<p>The oil futures curve, meanwhile, is signaling tighter supply and a brighter long term outlook. The prompt timespread for global benchmark Brent moved further into backwardation on Thursday, while the nearest December contract is trading at a higher level than the same contract for December 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil traded near an eight-month high after OPEC+ reached a compromise deal to gradually taper output cuts from the start of next year. Futures edged higher in New York after rising 0.8% on Thursday and are set to eke out a modest fifth weekly gain. The group will start adding 500,000 barrels a day of crude to the market in January and ministers will then hold monthly meetings to decide on the next steps. The deal avoided a breakdown of OPEC+ unity after a tense split between Saudi Arabia and the United Arab Emirates. The oil futures curve, meanwhile, is [&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-387748","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\/387748","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=387748"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/387748\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=387748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=387748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=387748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}