{"id":393849,"date":"2021-01-07T08:36:44","date_gmt":"2021-01-07T03:06:44","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=393849"},"modified":"2021-01-07T09:36:25","modified_gmt":"2021-01-07T04:06:25","slug":"oil-near-10-month-high-after-saudi-arabias-unilateral-supply-cut","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-near-10-month-high-after-saudi-arabias-unilateral-supply-cut\/","title":{"rendered":"Oil near 10-month high after Saudi Arabia&#8217;s unilateral supply cut"},"content":{"rendered":"<p>Oil held near a 10-month high after Saudi Arabia\u2019s surprise pledge to cut an extra 1 million barrels a day of crude output in February and March. <\/p>\n<p>Futures in New York rose 0.2 per cent, but gave up some earlier gains after failing to rise above the lows set in June 2019, a level seen as providing technical resistance. Saudi Arabia\u2019s pledge to cut output prompted a sharp rally on Tuesday in the structure of the futures curve and headline prices. <\/p>\n<p>The kingdom\u2019s decision, which Russian Deputy Prime Minister Alexander Novak called a \u201cnew year gift\u201d to the market, comes as governments enforce more stay-at-home orders and travel restrictions to curb a surge in virus infections.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil held near a 10-month high after Saudi Arabia\u2019s surprise pledge to cut an extra 1 million barrels a day of crude output in February and March. Futures in New York rose 0.2 per cent, but gave up some earlier gains after failing to rise above the lows set in June 2019, a level seen as providing technical resistance. Saudi Arabia\u2019s pledge to cut output prompted a sharp rally on Tuesday in the structure of the futures curve and headline prices. The kingdom\u2019s decision, which Russian Deputy Prime Minister Alexander Novak called a \u201cnew year gift\u201d to the market, comes [&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-393849","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\/393849","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=393849"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/393849\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=393849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=393849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=393849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}