{"id":409412,"date":"2021-04-06T09:59:17","date_gmt":"2021-04-06T04:29:17","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=409412"},"modified":"2021-04-06T11:42:14","modified_gmt":"2021-04-06T06:12:14","slug":"oil-slumps-5-as-rising-opec-iranian-output-weighs","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-slumps-5-as-rising-opec-iranian-output-weighs\/","title":{"rendered":"Oil slumps 5% as rising OPEC+, Iranian output weighs"},"content":{"rendered":"<p>NEW YORK: Oil fell more than $3 a barrel on Monday as rising supply from OPEC+ and higher Iranian output countered signs of a strong economic rebound in the United States.<\/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>&#8220;The timing was not good,&#8221; said Bob Yawger, director of energy futures at Mizuho Securities. &#8220;It seemed like OPEC+ was going to roll the deal, but they didn&#8217;t and now it looks like they&#8217;re going to have to pay at least in the short term.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK: Oil fell more than $3 a barrel on Monday as rising supply from OPEC+ and higher Iranian output countered signs of a strong economic rebound in the United States. 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. &#8220;The timing was not good,&#8221; said Bob Yawger, director of energy futures at Mizuho Securities. &#8220;It seemed like OPEC+ was going to roll the deal, but they didn&#8217;t and now it looks like they&#8217;re [&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":[130,191,136],"tags":[],"class_list":["post-409412","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/409412","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=409412"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/409412\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=409412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=409412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=409412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}