{"id":423691,"date":"2021-07-02T08:49:05","date_gmt":"2021-07-02T03:19:05","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=423691"},"modified":"2021-07-02T09:35:57","modified_gmt":"2021-07-02T04:05:57","slug":"crude-oil-prices-inch-up-ahead-of-opec-decision-on-supply-cuts","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/crude-oil-prices-inch-up-ahead-of-opec-decision-on-supply-cuts\/","title":{"rendered":"Crude oil prices inch up ahead of OPEC+ decision on supply cuts"},"content":{"rendered":"<p>Oil prices edged higher on Thursday, supported by lower U.S. inventories, as investors waited for a decision from key producers on whether they would maintain or reduce supply cuts in the second half of the year.<\/p>\n<p>Brent crude for September gained 15 cents, or 0.2%, to $74.77 a barrel by 0629 GMT while the U.S. West Texas Intermediate crude for August was at $73.69 a barrel, up 22 cents, or 0.3%. <\/p>\n<p>WTI rose more than 10% in June while Brent added over 8%, touching their highest levels since October 2018, as more people were vaccinated against COVID-19 and summer travel picked up.<\/p>\n<p>Analysts had forecast a larger supply deficit globally in the second half of the year as the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, maintained production cuts while demand rises.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices edged higher on Thursday, supported by lower U.S. inventories, as investors waited for a decision from key producers on whether they would maintain or reduce supply cuts in the second half of the year. Brent crude for September gained 15 cents, or 0.2%, to $74.77 a barrel by 0629 GMT while the U.S. West Texas Intermediate crude for August was at $73.69 a barrel, up 22 cents, or 0.3%. WTI rose more than 10% in June while Brent added over 8%, touching their highest levels since October 2018, as more people were vaccinated against COVID-19 and summer travel [&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-423691","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\/423691","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=423691"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/423691\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=423691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=423691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=423691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}