Oil rebounded from its biggest slump since November ahead of a key Opec+ meeting that may see some supply returned to a fast-tightening market.<\/p>\n
At 8.48 pm (IST), Brent crude was trading at $64.65 a barrel, up 0.36 per cent. The alliance gathers on Thursday and is expected to loosen the taps after prices got off to their best ever start to a year. But it\u2019s unclear how rob\u00adustly the group will act, with the Saudi Arabian energy minister calling for producers to remain \u201cextremely cautious.\u201d<\/p>\n
Oil\u2019s recovery from the Covid impact has been driven by Asian demand, as well as fiscal stimulus. The data showed most key manufacturing economies gained ground last month, with China staying in expansionary territory. Positive sentiment in the equity markets also aided crude, while US\u2008President Joe Biden\u2019s $1.9 trillion relief plan moved closer to realisation after passing the House of Representatives.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil rebounded from its biggest slump since November ahead of a key Opec+ meeting that may see some supply returned to a fast-tightening market. At 8.48 pm (IST), Brent crude was trading at $64.65 a barrel, up 0.36 per cent. The alliance gathers on Thursday and is expected to loosen the taps after prices got off to their best ever start to a year. But it\u2019s unclear how rob\u00adustly the group will act, with the Saudi Arabian energy minister calling for producers to remain \u201cextremely cautious.\u201d Oil\u2019s recovery from the Covid impact has been driven by Asian demand, as well […]<\/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":[135,130,169],"tags":[],"class_list":["post-402714","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\/402714","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=402714"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/402714\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=402714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=402714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=402714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}