{"id":527454,"date":"2022-10-06T10:25:46","date_gmt":"2022-10-06T04:55:46","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=527454"},"modified":"2022-10-06T11:28:44","modified_gmt":"2022-10-06T05:58:44","slug":"oil-extends-gains-to-three-week-high-as-opec-agrees-to-slash-crude-output","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-extends-gains-to-three-week-high-as-opec-agrees-to-slash-crude-output\/","title":{"rendered":"Oil extends gains to three-week high as OPEC+ agrees to slash crude output"},"content":{"rendered":"<p>Oil prices rose for a fourth session on Thursday, with Brent at a three-week high, after OPEC+ agreed to further tighten global crude supply with a deal to slash production by about 2 million barrel per day, the largest reduction since 2020.<\/p>\n<p>Brent crude futures for December settlement rose 22 cents, or 0.2%, to $93.59 per barrel by 0234 GMT after settling 1.7% higher in the previous session.<\/p>\n<p>U.S. West Texas Intermediate (WTI) crude futures for November delivery gained 22 cents, or 0.3%, to $87.98 per barrel, building on a 1.4% rise on Tuesday.<\/p>\n<p>The agreement between the Organization of Petroleum Exporting Countries (OPEC) and allies including Russia, a group known as OPEC+, comes ahead of a European Union embargo on Russian oil and would squeeze supplies in an already tight market, adding to inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose for a fourth session on Thursday, with Brent at a three-week high, after OPEC+ agreed to further tighten global crude supply with a deal to slash production by about 2 million barrel per day, the largest reduction since 2020. Brent crude futures for December settlement rose 22 cents, or 0.2%, to $93.59 per barrel by 0234 GMT after settling 1.7% higher in the previous session. U.S. West Texas Intermediate (WTI) crude futures for November delivery gained 22 cents, or 0.3%, to $87.98 per barrel, building on a 1.4% rise on Tuesday. The agreement between the Organization of [&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-527454","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\/527454","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=527454"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/527454\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=527454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=527454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=527454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}