{"id":404262,"date":"2021-03-11T08:48:14","date_gmt":"2021-03-11T03:18:14","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=404262"},"modified":"2021-03-11T09:53:42","modified_gmt":"2021-03-11T04:23:42","slug":"oil-rises-on-opec-supply-restraint-and-brighter-economic-forecast","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-rises-on-opec-supply-restraint-and-brighter-economic-forecast\/","title":{"rendered":"Oil rises on OPEC+ supply restraint and brighter economic forecast"},"content":{"rendered":"<p>Oil prices rose on Wednesday, supported by an OECD forecast for on global economic recovery and by OPEC+ oil output curbs, though gains were capped by rising U.S. inventories. <\/p>\n<p>Brent crude rose 34 cents, or 0.5%, to $67.86 a barrel by 1310 GMT and U.S. West Texas Intermediate crude rose 51 cents, or 0.8%, to $64.52. <\/p>\n<p>The pandemic-hit global economy is set to rebound with 5.6% growth this year and expand 4% next year, the Organisation for Economic Cooperation and Development (OECD) said in its interim economic outlook. Its previous forecast had been for growth of 4.2% this year. <\/p>\n<p>&#8220;When it comes to lifting market sentiment, there is very little that can rival an upgrade to the post-COVID economic recovery,&#8221; said Stephen Brennock of broker PVM.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose on Wednesday, supported by an OECD forecast for on global economic recovery and by OPEC+ oil output curbs, though gains were capped by rising U.S. inventories. Brent crude rose 34 cents, or 0.5%, to $67.86 a barrel by 1310 GMT and U.S. West Texas Intermediate crude rose 51 cents, or 0.8%, to $64.52. The pandemic-hit global economy is set to rebound with 5.6% growth this year and expand 4% next year, the Organisation for Economic Cooperation and Development (OECD) said in its interim economic outlook. Its previous forecast had been for growth of 4.2% this year. &#8220;When [&hellip;]<\/p>\n","protected":false},"author":40,"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-404262","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\/404262","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=404262"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/404262\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=404262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=404262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=404262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}