{"id":403084,"date":"2021-03-05T10:18:51","date_gmt":"2021-03-05T04:48:51","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=403084"},"modified":"2021-03-05T10:18:51","modified_gmt":"2021-03-05T04:48:51","slug":"oil-scales-1-year-peak-as-opec-rolls-over-output-for-april","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-scales-1-year-peak-as-opec-rolls-over-output-for-april\/","title":{"rendered":"Oil scales 1-year peak as OPEC+ rolls over output for April"},"content":{"rendered":"<p>Oil rallied more than 4% on Thursday, hitting its highest in over a year, after OPEC and its allies agreed to keep production unchanged into April, reasoning that the demand recovery from the coronavirus pandemic was still fragile.<\/p>\n<p>Brent crude rose $2.67, or 4.2%, to settle at $66.74 a barrel, after rising to $67.75, its highest since January 2020.<\/p>\n<p>U.S. crude futures ended $2.55, or 4.2%, higher at $63.83, having also scaled a January 2020 peak, at $64.86.<\/p>\n<p>&#8220;OPEC surprised us&#8230; The message OPEC is sending market is they&#8217;re quite willing to see oil prices run hot and ultimately, go a long way in reducing the inventory overhang built last year because of COVID-19,&#8221; said Bart Melek, head of commodity strategies at TD Securities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil rallied more than 4% on Thursday, hitting its highest in over a year, after OPEC and its allies agreed to keep production unchanged into April, reasoning that the demand recovery from the coronavirus pandemic was still fragile. Brent crude rose $2.67, or 4.2%, to settle at $66.74 a barrel, after rising to $67.75, its highest since January 2020. U.S. crude futures ended $2.55, or 4.2%, higher at $63.83, having also scaled a January 2020 peak, at $64.86. &#8220;OPEC surprised us&#8230; The message OPEC is sending market is they&#8217;re quite willing to see oil prices run hot and ultimately, go [&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-403084","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\/403084","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=403084"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/403084\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=403084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=403084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=403084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}