{"id":408066,"date":"2021-03-31T10:15:04","date_gmt":"2021-03-31T04:45:04","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=408066"},"modified":"2021-03-31T10:15:04","modified_gmt":"2021-03-31T04:45:04","slug":"oil-holds-loss-near-60-on-demand-worries-before-opec-meeting","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-holds-loss-near-60-on-demand-worries-before-opec-meeting\/","title":{"rendered":"Oil holds loss near $60 on demand worries before OPEC+ meeting"},"content":{"rendered":"<p>Oil held losses in early Asian trading amid concern over near-term demand and dollar strength ahead of a closely watched OPEC+ meeting this week at which the group will decide on output policy.<\/p>\n<p>Futures traded near $60 a barrel after dropping 1.6% Tuesday. An OPEC+ technical panel agreed to revise down the group\u2019s oil-demand estimates for the year, delegates said. The dimmer outlook in the coming months comes as rising virus cases and renewed lockdowns look set to slow the global recovery.<\/p>\n<p>The Bloomberg Dollar Spot Index rose to the highest since November on Tuesday, reducing the appeal of commodities priced in the currency. Industry data presented a mixed picture of U.S. stockpiles. Crude inventories rose by 3.91 million barrels last week but gasoline stocks fell by 6.01 million barrels, the American Petroleum Institute reported, according to people familiar.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil held losses in early Asian trading amid concern over near-term demand and dollar strength ahead of a closely watched OPEC+ meeting this week at which the group will decide on output policy. Futures traded near $60 a barrel after dropping 1.6% Tuesday. An OPEC+ technical panel agreed to revise down the group\u2019s oil-demand estimates for the year, delegates said. The dimmer outlook in the coming months comes as rising virus cases and renewed lockdowns look set to slow the global recovery. The Bloomberg Dollar Spot Index rose to the highest since November on Tuesday, reducing the appeal of commodities [&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-408066","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\/408066","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=408066"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/408066\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=408066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=408066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=408066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}