{"id":527430,"date":"2022-10-06T09:50:00","date_gmt":"2022-10-06T04:20:00","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=527430"},"modified":"2022-10-06T11:10:00","modified_gmt":"2022-10-06T05:40:00","slug":"oil-maintains-most-of-recent-gains-asf-opec-heads-for-deep-supply-cuts","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-maintains-most-of-recent-gains-asf-opec-heads-for-deep-supply-cuts\/","title":{"rendered":"Oil maintains most of recent gains asf OPEC+ heads for deep supply cuts"},"content":{"rendered":"<p>Oil inched lower on Wednesday after gains in recent days as OPEC+ producers looked set to agree deep output target cuts later in the day despite a tight market.<\/p>\n<p>Brent crude was down 23 cents, or 0.3%, at $91.57 a barrel at 0839 GMT while U.S. West Texas Intermediate (WTI) crude fell 32 cents, or 0.4%, to $86.20 a barrel. Both contracts rose sharply in the last two days.<\/p>\n<p>Oil has risen so far this week in anticipation of the largest output cut by OPEC+ since the depths of the COVID-19 pandemic in 2020, said Fiona Cincotta, senior financial markets analyst at City Index.<\/p>\n<p>&#8220;In reality, the real impact of a large cut would be smaller, given that some of the members are failing to reach their output quotas,&#8221; Cincotta added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil inched lower on Wednesday after gains in recent days as OPEC+ producers looked set to agree deep output target cuts later in the day despite a tight market. Brent crude was down 23 cents, or 0.3%, at $91.57 a barrel at 0839 GMT while U.S. West Texas Intermediate (WTI) crude fell 32 cents, or 0.4%, to $86.20 a barrel. Both contracts rose sharply in the last two days. Oil has risen so far this week in anticipation of the largest output cut by OPEC+ since the depths of the COVID-19 pandemic in 2020, said Fiona Cincotta, senior financial markets [&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-527430","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\/527430","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=527430"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/527430\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=527430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=527430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=527430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}