{"id":422381,"date":"2021-06-25T09:16:22","date_gmt":"2021-06-25T03:46:22","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=422381"},"modified":"2021-06-25T09:54:38","modified_gmt":"2021-06-25T04:24:38","slug":"oil-keeps-climbing-for-fifth-week-on-tight-supply-outlook-eyes-on-opec","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-keeps-climbing-for-fifth-week-on-tight-supply-outlook-eyes-on-opec\/","title":{"rendered":"Oil keeps climbing for fifth week on tight supply outlook, eyes on OPEC+"},"content":{"rendered":"<p>MELBOURNE (Reuters) &#8211; Oil prices rose on Friday, heading for a fifth straight week of gains, with demand growth seen outstripping supply on bets that OPEC+ producers will be cautious in returning more output to the market from August. <\/p>\n<p>U.S. West Texas Intermediate (WTI) crude futures rose 8 cents, or 0.1%, to $73.38 a barrel at 0216 GMT, headed for a 2.4% gain for the week.<\/p>\n<p>Brent crude futures climbed 7 cents, or 0.1%, to $75.63 a barrel, headed for a 2.9% jump for the week.<\/p>\n<p>Both benchmark contracts hit their highest since October 2018 on Thursday.<\/p>\n<p>All eyes are on the Organization of the Petroleum Exporting Countries, Russia and allies &#8211; together called OPEC+ &#8211; who are due to meet on July 1 to discuss further easing of their output cuts from August.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MELBOURNE (Reuters) &#8211; Oil prices rose on Friday, heading for a fifth straight week of gains, with demand growth seen outstripping supply on bets that OPEC+ producers will be cautious in returning more output to the market from August. U.S. West Texas Intermediate (WTI) crude futures rose 8 cents, or 0.1%, to $73.38 a barrel at 0216 GMT, headed for a 2.4% gain for the week. Brent crude futures climbed 7 cents, or 0.1%, to $75.63 a barrel, headed for a 2.9% jump for the week. Both benchmark contracts hit their highest since October 2018 on Thursday. All eyes are [&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-422381","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\/422381","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=422381"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/422381\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=422381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=422381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=422381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}