{"id":393609,"date":"2021-01-06T10:26:29","date_gmt":"2021-01-06T04:56:29","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=393609"},"modified":"2021-01-06T10:26:29","modified_gmt":"2021-01-06T04:56:29","slug":"oil-holds-gains-after-topping-50-on-saudi-pledge-to-cut-output","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-holds-gains-after-topping-50-on-saudi-pledge-to-cut-output\/","title":{"rendered":"Oil holds gains after topping $50 on Saudi pledge to cut output"},"content":{"rendered":"<p>Oil held gains in early Asian trading after surging to a 10-month high on a surprise Saudi Arabian pledge to cut an extra 1 million barrels a day of crude output in February.<\/p>\n<p>Futures in New York edged lower after jumping 4.9% on Tuesday and briefly topping $50 a barrel for the first time since February. OPEC+ reached an agreement following two days of talks to curb supply over the next two months. Other producers will hold supply steady or make small increases, delegates said. Russia and Kazakhstan will be allowed to boost output by a combined 75,000 barrels a day in both February and March.<\/p>\n<p>The Saudi pledge, which Russia\u2019s deputy prime minister described as a \u201cnew year gift&#8221; to the oil market, comes as stay-at-home orders and travel restrictions are being extended to rein in a rampant virus. Germany extended its lockdown and tightened restrictions, while Dalian in China asked people considered more vulnerable to Covid-19 to leave the city amid an outbreak.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil held gains in early Asian trading after surging to a 10-month high on a surprise Saudi Arabian pledge to cut an extra 1 million barrels a day of crude output in February. Futures in New York edged lower after jumping 4.9% on Tuesday and briefly topping $50 a barrel for the first time since February. OPEC+ reached an agreement following two days of talks to curb supply over the next two months. Other producers will hold supply steady or make small increases, delegates said. Russia and Kazakhstan will be allowed to boost output by a combined 75,000 barrels a [&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-393609","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\/393609","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=393609"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/393609\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=393609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=393609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=393609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}