{"id":433802,"date":"2021-09-03T08:57:27","date_gmt":"2021-09-03T03:27:27","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=433802"},"modified":"2021-09-03T09:51:00","modified_gmt":"2021-09-03T04:21:00","slug":"oil-prices-drop-after-opec-reaffirms-supply-return-as-demand-wavers","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-drop-after-opec-reaffirms-supply-return-as-demand-wavers\/","title":{"rendered":"Oil prices drop after OPEC+ reaffirms supply return as demand wavers"},"content":{"rendered":"<p>TOKYO (Reuters) -Oil prices fell on Thursday after OPEC+ agreed to keep its policy of gradually returning supply to the market at a time when coronavirus cases around the world are surging and many U.S. refiners, a key source of crude demand, remained offline. <\/p>\n<p>Brent crude was down by 16 cents, or 0.2%, at $71.43 a barrel by 0422 GMT, after dropping 4 cents on Wednesday. U.S. oil fell 23 cents, or 0.3%, to $68.36 a barrel, after rising 9 cents in the previous session.<\/p>\n<p>The Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia, together known as OPEC+, agreed on Wednesday to continue a policy of phasing out record production reductions by adding 400,000 barrels per day (bpd) each month to the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TOKYO (Reuters) -Oil prices fell on Thursday after OPEC+ agreed to keep its policy of gradually returning supply to the market at a time when coronavirus cases around the world are surging and many U.S. refiners, a key source of crude demand, remained offline. Brent crude was down by 16 cents, or 0.2%, at $71.43 a barrel by 0422 GMT, after dropping 4 cents on Wednesday. U.S. oil fell 23 cents, or 0.3%, to $68.36 a barrel, after rising 9 cents in the previous session. The Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia, together 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-433802","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\/433802","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=433802"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/433802\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=433802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=433802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=433802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}