{"id":402209,"date":"2021-02-26T11:48:42","date_gmt":"2021-02-26T06:18:42","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=402209"},"modified":"2021-02-26T12:29:14","modified_gmt":"2021-02-26T06:59:14","slug":"oil-set-for-monthly-surge-with-market-watching-next-opec-move","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-set-for-monthly-surge-with-market-watching-next-opec-move\/","title":{"rendered":"Oil set for monthly surge with market watching next OPEC+ move"},"content":{"rendered":"<p>Oil is heading for a fourth monthly gain with the global market tightening as investors await the OPEC+ meeting next week, watching for any changes to production strategy following booming prices.<\/p>\n<p>Futures in New York are up 21% this month after closing at the highest since May 2019 on Thursday. The recovery from the Covid-19 pandemic accelerated this year after Saudi Arabia pledged deeper output cuts, helping to drain bloated stockpiles. Early indications point to differing opinions on the way forward for OPEC+, however, with the kingdom in favor of keeping supply steady and fellow heavyweight Russia angling for an increase.<\/p>\n<p>The producer group will meet amid an atmosphere of buoyant optimism in the market outlook, with traders and investment banks this week making a series of bullish calls and upward price revisions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil is heading for a fourth monthly gain with the global market tightening as investors await the OPEC+ meeting next week, watching for any changes to production strategy following booming prices. Futures in New York are up 21% this month after closing at the highest since May 2019 on Thursday. The recovery from the Covid-19 pandemic accelerated this year after Saudi Arabia pledged deeper output cuts, helping to drain bloated stockpiles. Early indications point to differing opinions on the way forward for OPEC+, however, with the kingdom in favor of keeping supply steady and fellow heavyweight Russia angling for an [&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":[141,130,183],"tags":[],"class_list":["post-402209","post","type-post","status-publish","format-standard","hentry","category-hindustantimes","category-newspapers","category-oil-gas-hindustantimes"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/402209","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=402209"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/402209\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=402209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=402209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=402209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}