{"id":394959,"date":"2021-01-13T11:16:01","date_gmt":"2021-01-13T05:46:01","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=394959"},"modified":"2021-01-13T12:06:55","modified_gmt":"2021-01-13T06:36:55","slug":"opec-crude-output-cuts-may-help-us-shale-profits-in-2021","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/opec-crude-output-cuts-may-help-us-shale-profits-in-2021\/","title":{"rendered":"OPEC crude output cuts may help US shale profits in 2021"},"content":{"rendered":"<p>A decision by OPEC and allied countries to cut crude production through March delivered a late Christmas present for US shale firms that have slashed costs, but any rise in prices spurred by the unexpected move may be just a modest stocking stuffer.<\/p>\n<p>US crude oil production has fallen 2 million barrels per day in the last year as low prices and demand forced output cuts. Investors had already been pressuring the industry to curb spending and boost returns before the pandemic hit.<\/p>\n<p>On Tuesday, Saudi Arabia, the world&#8217;s biggest oil exporter, said it would voluntarily reduce its production by 1 million barrels per day (bpd) in February and March, after Russia pushed to increase output, worried about US shale capitalizing on the group&#8217;s cuts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A decision by OPEC and allied countries to cut crude production through March delivered a late Christmas present for US shale firms that have slashed costs, but any rise in prices spurred by the unexpected move may be just a modest stocking stuffer. US crude oil production has fallen 2 million barrels per day in the last year as low prices and demand forced output cuts. Investors had already been pressuring the industry to curb spending and boost returns before the pandemic hit. On Tuesday, Saudi Arabia, the world&#8217;s biggest oil exporter, said it would voluntarily reduce its production by [&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":[146,130,177],"tags":[],"class_list":["post-394959","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/394959","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=394959"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/394959\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=394959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=394959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=394959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}