{"id":424443,"date":"2021-07-06T08:45:34","date_gmt":"2021-07-06T03:15:34","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=424443"},"modified":"2021-07-06T09:43:15","modified_gmt":"2021-07-06T04:13:15","slug":"opec-crisis-deepens-as-saudi-arabia-refuses-to-budge-oil-edges-up","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/opec-crisis-deepens-as-saudi-arabia-refuses-to-budge-oil-edges-up\/","title":{"rendered":"OPEC+ crisis deepens as Saudi Arabia refuses to budge, oil edges up"},"content":{"rendered":"<p>Oil prices were slightly up on Monday with investors and traders awaiting crucial talks by OPEC+ following disagreement over output within the group that could lead to major producers pumping up volumes to grab market share.<\/p>\n<p>Brent crude was up 15 cents, or 0.2%, at $76.32 a barrel by 0558 GMT, after slipping 1 cent last week, the first weekly decline in six. U.S. oil gained 12 cents, or 0.5%, to $75.28 a barrel, having risen 1.5% last week, the sixth consecutive week of gains for the contract. <\/p>\n<p>The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, voted on Friday to increase production by about 2 million barrels a day from August to December 2021 and to extend the remaining output cuts to the end of 2022, but objections from the United Arab Emirates (UAE) prevented an agreement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices were slightly up on Monday with investors and traders awaiting crucial talks by OPEC+ following disagreement over output within the group that could lead to major producers pumping up volumes to grab market share. Brent crude was up 15 cents, or 0.2%, at $76.32 a barrel by 0558 GMT, after slipping 1 cent last week, the first weekly decline in six. U.S. oil gained 12 cents, or 0.5%, to $75.28 a barrel, having risen 1.5% last week, the sixth consecutive week of gains for the contract. The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known [&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-424443","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\/424443","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=424443"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/424443\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=424443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=424443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=424443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}