{"id":387964,"date":"2020-12-05T08:40:22","date_gmt":"2020-12-05T03:10:22","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=387964"},"modified":"2020-12-05T09:28:25","modified_gmt":"2020-12-05T03:58:25","slug":"oil-prices-move-up-towards-50-bbl-after-opec-supply-compromise","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-move-up-towards-50-bbl-after-opec-supply-compromise\/","title":{"rendered":"Oil prices move up towards $50\/bbl after OPEC+ supply compromise"},"content":{"rendered":"<p>LONDON (Reuters) &#8211; Brent crude oil futures rose to just under $50 a barrel on Friday as major producers agreed on a compromise to increase output slightly from January but continue the bulk of existing supply curbs to cope with coronavirus-hit demand. <\/p>\n<p>Brent was up 53 cents at $49.24 a barrel by 1034 GMT after hitting its highest since early March at $49.92. West Texas Intermediate rose 47 cents to $46.11 a barrel. Both benchmarks are set for a fifth straight week of gains. <\/p>\n<p>OPEC and Russia on Thursday agreed to ease deep oil output cuts from January by 500,000 barrels per day with further as yet undefined increases on a monthly basis, failing to reach a compromise on a broader policy for the rest of 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (Reuters) &#8211; Brent crude oil futures rose to just under $50 a barrel on Friday as major producers agreed on a compromise to increase output slightly from January but continue the bulk of existing supply curbs to cope with coronavirus-hit demand. Brent was up 53 cents at $49.24 a barrel by 1034 GMT after hitting its highest since early March at $49.92. West Texas Intermediate rose 47 cents to $46.11 a barrel. Both benchmarks are set for a fifth straight week of gains. OPEC and Russia on Thursday agreed to ease deep oil output cuts from January by 500,000 [&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-387964","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\/387964","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=387964"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/387964\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=387964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=387964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=387964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}