{"id":423583,"date":"2021-07-01T11:55:50","date_gmt":"2021-07-01T06:25:50","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=423583"},"modified":"2021-07-01T12:49:19","modified_gmt":"2021-07-01T07:19:19","slug":"oil-prices-drift-sideways-as-investors-await-opec-decision-on-supply-cuts","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-drift-sideways-as-investors-await-opec-decision-on-supply-cuts\/","title":{"rendered":"Oil prices drift sideways as investors await OPEC+ decision on supply cuts"},"content":{"rendered":"<p>SINGAPORE (Reuters) &#8211; Oil prices traded sideways on Thursday as investors waited for a decision from key producers on whether they would maintain or ease supply cuts in the second half of the year. <\/p>\n<p>Brent crude for September edged up 1 cent to $74.63 a barrel by 0048 GMT while the U.S. West Texas Intermediate crude for August was at $73.46 a barrel, down 1 cent but near its highest since 2018 of $74.45.<\/p>\n<p>WTI rose more than 10% in June while Brent added over 8%, touching highs since 2018, as summer travel picked up and more people got vaccinated. But renewed lockdowns in Asia amid the spread of a highly contagious COVID-19 variant capped demand.<\/p>\n<p>In response to rising demand, U.S. crude stockpiles fell last week for the sixth straight week, data from the Energy Information Administration showed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE (Reuters) &#8211; Oil prices traded sideways on Thursday as investors waited for a decision from key producers on whether they would maintain or ease supply cuts in the second half of the year. Brent crude for September edged up 1 cent to $74.63 a barrel by 0048 GMT while the U.S. West Texas Intermediate crude for August was at $73.46 a barrel, down 1 cent but near its highest since 2018 of $74.45. WTI rose more than 10% in June while Brent added over 8%, touching highs since 2018, as summer travel picked up and more people got vaccinated. [&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-423583","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\/423583","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=423583"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/423583\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=423583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=423583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=423583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}