{"id":516539,"date":"2022-08-24T11:00:18","date_gmt":"2022-08-24T05:30:18","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=516539"},"modified":"2022-08-24T12:24:15","modified_gmt":"2022-08-24T06:54:15","slug":"oil-prices-fall-as-fears-of-imminent-opec-output-cut-recede-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-fall-as-fears-of-imminent-opec-output-cut-recede-2\/","title":{"rendered":"Oil prices fall as fears of imminent OPEC+ output cut recede"},"content":{"rendered":"<p>Oil prices fell on Wednesday, taking a breather from a nearly 4 per cent surge the previous day on receding fears of an imminent output cut by the Organisation of the Petroleum Exporting Countries and allies, a group known as OPEC+.<\/p>\n<p>Global benchmark Brent crude futures fell 21 cents, or 0.2 per cent, to $100.01 a barrel by 0114 GMT, after rising 3.9 per cent on Tuesday. The US West Texas Intermediate crude futures contract was down 10 cents, or 0.1 per cent, at $93.64 a barrel, having jumped 3.7 per cent the previous day.<\/p>\n<p>Both contracts soared on Tuesday after de facto OPEC leader Saudi Arabia flagged the possibility of introducing cuts to balance a market it described as &#8220;schizophrenic&#8221;, with the paper and physical markets becoming increasingly disconnected.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell on Wednesday, taking a breather from a nearly 4 per cent surge the previous day on receding fears of an imminent output cut by the Organisation of the Petroleum Exporting Countries and allies, a group known as OPEC+. Global benchmark Brent crude futures fell 21 cents, or 0.2 per cent, to $100.01 a barrel by 0114 GMT, after rising 3.9 per cent on Tuesday. The US West Texas Intermediate crude futures contract was down 10 cents, or 0.1 per cent, at $93.64 a barrel, having jumped 3.7 per cent the previous day. Both contracts soared on Tuesday [&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-516539","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\/516539","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=516539"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/516539\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=516539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=516539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=516539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}