{"id":426501,"date":"2021-07-19T08:51:55","date_gmt":"2021-07-19T03:21:55","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=426501"},"modified":"2021-07-19T09:31:54","modified_gmt":"2021-07-19T04:01:54","slug":"oil-prices-fall-more-than-1-after-opec-agrees-to-boost-supply","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-fall-more-than-1-after-opec-agrees-to-boost-supply\/","title":{"rendered":"Oil prices fall more than 1% after OPEC+ agrees to boost supply"},"content":{"rendered":"<p>Oil prices fell more than 1% on Monday, hit by an agreement over the weekend within the OPEC+ group of producers to boost output after an earlier pact fell apart due to objections from the United Arab Emirates (UAE).<\/p>\n<p>Brent crude was down $1, or 1.4%, at $72.59 a barrel by 0037 GMT, after falling nearly 3% last week. U.S. oil was down 94 cents, or 1.3%, at $70.87 a barrel, having declined almost 4% last week. <\/p>\n<p>OPEC+ ministers agreed on Sunday to increase oil supply from August to dampen prices that earlier this month climbed to the highest in around two and a half years as the global economy recovers from the COVID-19 pandemic.<\/p>\n<p>The group, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) and allies like Russia, together known as OPEC+, agreed new production shares from May 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell more than 1% on Monday, hit by an agreement over the weekend within the OPEC+ group of producers to boost output after an earlier pact fell apart due to objections from the United Arab Emirates (UAE). Brent crude was down $1, or 1.4%, at $72.59 a barrel by 0037 GMT, after falling nearly 3% last week. U.S. oil was down 94 cents, or 1.3%, at $70.87 a barrel, having declined almost 4% last week. OPEC+ ministers agreed on Sunday to increase oil supply from August to dampen prices that earlier this month climbed to the highest in [&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-426501","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\/426501","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=426501"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/426501\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=426501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=426501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=426501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}