{"id":396249,"date":"2021-01-20T10:21:56","date_gmt":"2021-01-20T04:51:56","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=396249"},"modified":"2021-01-20T10:21:56","modified_gmt":"2021-01-20T04:51:56","slug":"oil-rises-with-stimulus-hopes-overshadowing-gloomy-iea-forecast","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-rises-with-stimulus-hopes-overshadowing-gloomy-iea-forecast\/","title":{"rendered":"Oil rises with stimulus hopes overshadowing gloomy IEA forecast"},"content":{"rendered":"<p>Oil extended gains in Asia on expectations U.S. President-elect Joe Biden\u2019s incoming administration will take steps to revive growth and energy demand in the world\u2019s largest economy.<\/p>\n<p>Futures in New York edged above $53 a barrel after closing up 1.2% on Tuesday. Treasury Secretary nominee Janet Yellen called on lawmakers to \u201cact big&#8221; on stimulus, which could provide a boost to consumption while coronavirus vaccines continue to be rolled out. A weaker U.S. dollar is also increasing the appeal for commodities like oil that are priced in the currency.<\/p>\n<p>The optimism was tempered somewhat as the International Energy Agency cut forecasts for global oil demand as renewed lockdowns to contain the pandemic weigh on consumption. The Paris-based agency lowered its demand estimate for this quarter by 600,000 barrels a day in its monthly report.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil extended gains in Asia on expectations U.S. President-elect Joe Biden\u2019s incoming administration will take steps to revive growth and energy demand in the world\u2019s largest economy. Futures in New York edged above $53 a barrel after closing up 1.2% on Tuesday. Treasury Secretary nominee Janet Yellen called on lawmakers to \u201cact big&#8221; on stimulus, which could provide a boost to consumption while coronavirus vaccines continue to be rolled out. A weaker U.S. dollar is also increasing the appeal for commodities like oil that are priced in the currency. The optimism was tempered somewhat as the International Energy Agency cut [&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-396249","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\/396249","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=396249"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/396249\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=396249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=396249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=396249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}