{"id":394873,"date":"2021-01-13T08:48:42","date_gmt":"2021-01-13T03:18:42","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=394873"},"modified":"2021-01-13T09:55:04","modified_gmt":"2021-01-13T04:25:04","slug":"oil-hits-11-month-high-near-57-a-barrel-on-tight-supply-expectations","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-hits-11-month-high-near-57-a-barrel-on-tight-supply-expectations\/","title":{"rendered":"Oil hits 11-month high near $57 a barrel on tight supply expectations"},"content":{"rendered":"<p>Oil hit an 11-month high just below $57 a barrel on Tuesday, bolstered by Saudi Arabia&#8217;s plans to limit supply, offsetting worries that rising coronavirus cases globally would curtail fuel demand.<\/p>\n<p>Brent crude was up 90 cents, or 1.6%, at $56.56 a barrel by 1118 EST (1618 GMT) after touching its highest since last February at $56.75. U.S. West Texas Intermediate (WTI) gained 82 cents, or 1.6%, to $53.07. <\/p>\n<p>Saudi Arabia plans to cut output by an extra 1 million barrels per day (bpd) in February and March to keep inventories in check.<\/p>\n<p>The Saudi cut is part of an OPEC-led deal in which most producers will hold output steady in February. Last year&#8217;s record cuts from OPEC and its allies helped oil recover from historic lows reached in April. Some analysts believe the oil complex is underestimating supply levels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil hit an 11-month high just below $57 a barrel on Tuesday, bolstered by Saudi Arabia&#8217;s plans to limit supply, offsetting worries that rising coronavirus cases globally would curtail fuel demand. Brent crude was up 90 cents, or 1.6%, at $56.56 a barrel by 1118 EST (1618 GMT) after touching its highest since last February at $56.75. U.S. West Texas Intermediate (WTI) gained 82 cents, or 1.6%, to $53.07. Saudi Arabia plans to cut output by an extra 1 million barrels per day (bpd) in February and March to keep inventories in check. The Saudi cut is part of an [&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-394873","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\/394873","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=394873"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/394873\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=394873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=394873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=394873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}