{"id":465901,"date":"2022-02-03T10:15:33","date_gmt":"2022-02-03T04:45:33","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=465901"},"modified":"2022-02-03T11:17:32","modified_gmt":"2022-02-03T05:47:32","slug":"opec-backs-another-modest-oil-output-hike-despite-surging-prices","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/opec-backs-another-modest-oil-output-hike-despite-surging-prices\/","title":{"rendered":"OPEC+ backs another modest oil output hike despite surging prices"},"content":{"rendered":"<p>Top oil-producing countries led by Saudi Arabia and Russia announced another modest increase in output on Wednesday despite soaring crude prices and geopolitical tensions rattling the markets. <\/p>\n<p>The 23-nation OPEC+ group said in a statement that it will increase production by 400,000 barrels per day in March, the same amount as in previous months.<\/p>\n<p>The group, which includes the 13 members of the Saudi-led Organization of the Petroleum Exporting Countries (OPEC) and their 10 allies, including Russia, has resisted US pressure to further boost production to tame prices. <\/p>\n<p>OPEC+ said in its statement following a ministerial videoconference that the decision was made &#8220;in view of current oil market fundamentals and the consensus on the outlook&#8221;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Top oil-producing countries led by Saudi Arabia and Russia announced another modest increase in output on Wednesday despite soaring crude prices and geopolitical tensions rattling the markets. The 23-nation OPEC+ group said in a statement that it will increase production by 400,000 barrels per day in March, the same amount as in previous months. The group, which includes the 13 members of the Saudi-led Organization of the Petroleum Exporting Countries (OPEC) and their 10 allies, including Russia, has resisted US pressure to further boost production to tame prices. OPEC+ said in its statement following a ministerial videoconference that the decision [&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":[146,130,177],"tags":[],"class_list":["post-465901","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/465901","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=465901"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/465901\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=465901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=465901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=465901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}