{"id":403317,"date":"2021-03-06T10:29:12","date_gmt":"2021-03-06T04:59:12","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=403317"},"modified":"2021-03-06T10:29:12","modified_gmt":"2021-03-06T04:59:12","slug":"oil-soars-above-65-with-saudi-supply-gamble-buoying-crude-bulls","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-soars-above-65-with-saudi-supply-gamble-buoying-crude-bulls\/","title":{"rendered":"Oil soars above $65 with Saudi supply gamble buoying crude bulls"},"content":{"rendered":"<p>Oil rallied to the highest in nearly two years in New York after OPEC shocked markets with a decision to keep supply limited as the global economy recovers from a pandemic-driven slump.<\/p>\n<p>US benchmark crude futures topped $65 a barrel on Friday, while its global counterpart Brent edged closer to the key $70-a-barrel level. A surprise decision on Thursday by the producer group to keep output steady in April spurred a wave of upgrades in oil price forecasts by major banks and a surge in the market\u2019s structure.<\/p>\n<p>\u201cWe\u2019re going to continue to draw inventory at a much faster rate than we had expected just two days ago,&#8221; said Andrew Lebow, senior partner at Commodity Research Group. \u201cMoving forward, if demand continues to improve, there\u2019s certainly a chance of a serious supply shortage.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil rallied to the highest in nearly two years in New York after OPEC shocked markets with a decision to keep supply limited as the global economy recovers from a pandemic-driven slump. US benchmark crude futures topped $65 a barrel on Friday, while its global counterpart Brent edged closer to the key $70-a-barrel level. A surprise decision on Thursday by the producer group to keep output steady in April spurred a wave of upgrades in oil price forecasts by major banks and a surge in the market\u2019s structure. \u201cWe\u2019re going to continue to draw inventory at a much faster rate [&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-403317","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\/403317","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=403317"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/403317\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=403317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=403317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=403317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}