{"id":427034,"date":"2021-07-23T08:32:59","date_gmt":"2021-07-23T03:02:59","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=427034"},"modified":"2021-07-23T09:38:51","modified_gmt":"2021-07-23T04:08:51","slug":"oil-slip-but-heads-for-steady-week-on-supply-tightness-as-demand-recovers","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-slip-but-heads-for-steady-week-on-supply-tightness-as-demand-recovers\/","title":{"rendered":"Oil slip but heads for steady week on supply tightness as demand recovers"},"content":{"rendered":"<p>MELBOURNE (Reuters) &#8211; Oil prices trimmed overnight gains on Friday but were poised to end the week largely steady after rebounding from a sharp drop, underpinned by expectations supply will remain tight as demand recovers. <\/p>\n<p>Brent crude futures fell 7 cents, or 0.1%, to $73.72 a barrel at 0147 GMT, after jumping 2.2% on Thursday. For the week, Brent was headed for a 0.1% gain.<\/p>\n<p>U.S. West Texas Intermediate (WTI) crude futures fell 8 cents, or 0.1%, to $71.83 a barrel, following a 2.3% gain on Thursday. WTI was set to end the week flat.<\/p>\n<p>Demand growth is expected to outpace new supply, following the agreement by the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, to add back 400,000 barrels per day each month from August through December.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MELBOURNE (Reuters) &#8211; Oil prices trimmed overnight gains on Friday but were poised to end the week largely steady after rebounding from a sharp drop, underpinned by expectations supply will remain tight as demand recovers. Brent crude futures fell 7 cents, or 0.1%, to $73.72 a barrel at 0147 GMT, after jumping 2.2% on Thursday. For the week, Brent was headed for a 0.1% gain. U.S. West Texas Intermediate (WTI) crude futures fell 8 cents, or 0.1%, to $71.83 a barrel, following a 2.3% gain on Thursday. WTI was set to end the week flat. Demand growth is expected to [&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-427034","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\/427034","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=427034"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/427034\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=427034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=427034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=427034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}