{"id":466086,"date":"2022-02-04T09:16:30","date_gmt":"2022-02-04T03:46:30","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=466086"},"modified":"2022-02-04T09:37:35","modified_gmt":"2022-02-04T04:07:35","slug":"oil-prices-take-a-breather-as-opec-sticks-to-moderate-output-plans","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-take-a-breather-as-opec-sticks-to-moderate-output-plans\/","title":{"rendered":"Oil prices take a breather as OPEC+ sticks to moderate output plans"},"content":{"rendered":"<p>Oil prices eased on Thursday following weak U.S. payrolls data and some profit taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases.<\/p>\n<p>Brent crude fell 37 cents, or 0.4%, to $89.10 a barrel by 0127 GMT, after rising 31 cents on Wednesday. U.S.<\/p>\n<p>West Texas Intermediate crude was down 54 cents, or 0.6%, at $87.72 a barrel, having gained 6 cents the previous day.<\/p>\n<p>&#8220;This morning&#8217;s dip might be a result of the shockingly low U.S. ADP employment print last night, but we believe the supply squeeze may drive oil prices higher through this year,&#8221; said Howie Lee, economist at OCBC in Singapore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices eased on Thursday following weak U.S. payrolls data and some profit taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases. Brent crude fell 37 cents, or 0.4%, to $89.10 a barrel by 0127 GMT, after rising 31 cents on Wednesday. U.S. West Texas Intermediate crude was down 54 cents, or 0.6%, at $87.72 a barrel, having gained 6 cents the previous day. &#8220;This morning&#8217;s dip might be a result of the shockingly low U.S. ADP employment print last night, but we believe the supply squeeze may drive oil prices higher through [&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-466086","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\/466086","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=466086"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/466086\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=466086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=466086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=466086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}