{"id":428743,"date":"2021-08-03T08:44:28","date_gmt":"2021-08-03T03:14:28","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=428743"},"modified":"2021-08-03T09:30:56","modified_gmt":"2021-08-03T04:00:56","slug":"oil-prices-slump-4-on-concerns-over-demand-and-opec-supply-boost","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-slump-4-on-concerns-over-demand-and-opec-supply-boost\/","title":{"rendered":"Oil prices slump 4% on concerns over demand and OPEC supply boost"},"content":{"rendered":"<p>NEW YORK (Reuters) -Oil prices tumbled about 4% on Monday as weak economic data from China and the United States, the world&#8217;s top oil consumers, and higher crude output from OPEC producers stoked fears of weakness in oil demand and oversupply. <\/p>\n<p>Brent crude oil futures slid by $2.65, or 3.5%, to $72.76 a barrel by 11:52 a.m. EDT (1552 GMT). U.S. West Texas Intermediate (WTI) crude dropped fell $2.91, or 3.9%, to $71.04.<\/p>\n<p>&#8220;The complex is reacting pretty strongly from the more bearish economic data from China and the U.S.,&#8221; said John Kilduff, partner at Again Capital LLC in New York.<\/p>\n<p>China&#8217;s factory activity growth slipped sharply in July as demand contracted for the first time in more than a year, a survey showed on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK (Reuters) -Oil prices tumbled about 4% on Monday as weak economic data from China and the United States, the world&#8217;s top oil consumers, and higher crude output from OPEC producers stoked fears of weakness in oil demand and oversupply. Brent crude oil futures slid by $2.65, or 3.5%, to $72.76 a barrel by 11:52 a.m. EDT (1552 GMT). U.S. West Texas Intermediate (WTI) crude dropped fell $2.91, or 3.9%, to $71.04. &#8220;The complex is reacting pretty strongly from the more bearish economic data from China and the U.S.,&#8221; said John Kilduff, partner at Again Capital LLC in New [&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-428743","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\/428743","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=428743"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/428743\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=428743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=428743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=428743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}