{"id":394358,"date":"2021-01-11T08:59:01","date_gmt":"2021-01-11T03:29:01","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=394358"},"modified":"2021-01-11T10:03:15","modified_gmt":"2021-01-11T04:33:15","slug":"oil-hits-11-month-highs-on-saudi-output-cut-pledge-equities-rally","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-hits-11-month-highs-on-saudi-output-cut-pledge-equities-rally\/","title":{"rendered":"Oil hits 11-month highs on Saudi output cut pledge, equities rally"},"content":{"rendered":"<p>Brent oil topped $55 a barrel for the first time since February, as gains in broader markets added to investor optimism already buoyed by Saudi Arabia\u2019s unilateral plan to cut output. <\/p>\n<p>The move caps a stellar few months for the oil market, with crude emerging as a favored play to bet on coronavirus vaccines and global reflation. Saudi Arabia\u2019s pledge earlier in the week to cut production by 1 million barrels a day in February and March added vigour to the rally, while Democrat gains in the US have spurred broader markets higher in expectation of additional stimulus. <\/p>\n<p>Covid remains a near-term concern, though. Accelerating cases across Europe prompted a call from the World Health Organization for stricter measures across the continent,<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brent oil topped $55 a barrel for the first time since February, as gains in broader markets added to investor optimism already buoyed by Saudi Arabia\u2019s unilateral plan to cut output. The move caps a stellar few months for the oil market, with crude emerging as a favored play to bet on coronavirus vaccines and global reflation. Saudi Arabia\u2019s pledge earlier in the week to cut production by 1 million barrels a day in February and March added vigour to the rally, while Democrat gains in the US have spurred broader markets higher in expectation of additional stimulus. Covid remains [&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-394358","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\/394358","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=394358"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/394358\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=394358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=394358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=394358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}