{"id":516053,"date":"2022-08-23T09:41:29","date_gmt":"2022-08-23T04:11:29","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=516053"},"modified":"2022-08-23T09:49:39","modified_gmt":"2022-08-23T04:19:39","slug":"oil-prices-rise-after-saudi-warns-opec-could-cut-output-to-correct-drop","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-rise-after-saudi-warns-opec-could-cut-output-to-correct-drop\/","title":{"rendered":"Oil prices rise after Saudi warns OPEC could cut output to correct drop"},"content":{"rendered":"<p>Oil prices edged up on Tuesday, after Saudi Arabia warned that OPEC could cut output to correct a recent drop in oil futures.<\/p>\n<p>Brent crude futures rose 32 cents to $96.80 a barrel by 0004 GMT, after a choppy session on Monday when they dropped by more than $4 before paring losses to trade near flat.<\/p>\n<p>U.S. West Texas Intermediate crude futures rose 37 cents to $90.73 a barrel by 0004 GMT.<\/p>\n<p>The benchmarks are down about 12% and 8% this month, respectively.<\/p>\n<p>The Organization of the Petroleum Exporting Countries stands ready to reduce production to correct the recent oil price fall driven by poor futures market liquidity and macro-economic fears, which has ignored extremely tight physical crude supply, OPEC&#8217;s leader Saudi Arabia said on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices edged up on Tuesday, after Saudi Arabia warned that OPEC could cut output to correct a recent drop in oil futures. Brent crude futures rose 32 cents to $96.80 a barrel by 0004 GMT, after a choppy session on Monday when they dropped by more than $4 before paring losses to trade near flat. U.S. West Texas Intermediate crude futures rose 37 cents to $90.73 a barrel by 0004 GMT. The benchmarks are down about 12% and 8% this month, respectively. The Organization of the Petroleum Exporting Countries stands ready to reduce production to correct the recent oil [&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-516053","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\/516053","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=516053"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/516053\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=516053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=516053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=516053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}