{"id":409331,"date":"2021-04-06T09:09:40","date_gmt":"2021-04-06T03:39:40","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=409331"},"modified":"2021-04-06T09:39:54","modified_gmt":"2021-04-06T04:09:54","slug":"oil-prices-drop-below-64-as-rising-opec-iranian-output-weighs","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-drop-below-64-as-rising-opec-iranian-output-weighs\/","title":{"rendered":"Oil prices drop below $64 as rising OPEC+, Iranian output weighs"},"content":{"rendered":"<p>Oil fell to below $64 a barrel on Monday as rising supply from OPEC+ and higher Iranian output countered signs of a strong economic rebound in the United States and expectations of a wider demand recovery in 2021.<\/p>\n<p>The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed on Thursday to monthly production hikes from May to July. OPEC member Iran, exempt from making voluntary cuts, is also boosting supply. <\/p>\n<p>Brent crude for June fell $1.44, or 2.2%, to $63.42 a barrel by 1425 GMT. U.S. West Texas Intermediate crude for May dropped $1.60, or 2.6%, to $59.85.<\/p>\n<p>&#8220;The OPEC+ decision, perhaps nudged along by increasing Iranian production heading to China, probably means we have seen the best of the oil rally now for the next few months,&#8221; Jeffrey Halley of brokerage OANDA said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil fell to below $64 a barrel on Monday as rising supply from OPEC+ and higher Iranian output countered signs of a strong economic rebound in the United States and expectations of a wider demand recovery in 2021. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed on Thursday to monthly production hikes from May to July. OPEC member Iran, exempt from making voluntary cuts, is also boosting supply. Brent crude for June fell $1.44, or 2.2%, to $63.42 a barrel by 1425 GMT. U.S. West Texas Intermediate crude for May dropped $1.60, or 2.6%, to [&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-409331","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\/409331","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=409331"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/409331\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=409331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=409331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=409331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}