{"id":527672,"date":"2022-10-07T09:46:52","date_gmt":"2022-10-07T04:16:52","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=527672"},"modified":"2022-10-07T10:54:31","modified_gmt":"2022-10-07T05:24:31","slug":"oil-prices-near-three-week-high-on-cuts-to-opec-output-targets","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-near-three-week-high-on-cuts-to-opec-output-targets\/","title":{"rendered":"Oil prices near three-week high on cuts to OPEC+ output targets"},"content":{"rendered":"<p>Oil prices held near three-week highs on Thursday after OPEC+ agreed to tighten global crude supply with a deal to cut production targets by 2 million barrel per day (bpd), the largest reduction since 2020.<\/p>\n<p>Brent crude futures gained 15 cents, or 0.2%, to $93.52 per barrel by 1340 GMT after settling 1.7% up in the previous session.<\/p>\n<p>U.S. West Texas Intermediate (WTI) crude futures rose 14 cents, or 0.2%, to $87.90 after closing 1.4% up on Wednesday.<\/p>\n<p>The agreement between the Organization of Petroleum Exporting Countries (OPEC) and allies including Russia, a group known collectively 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 held near three-week highs on Thursday after OPEC+ agreed to tighten global crude supply with a deal to cut production targets by 2 million barrel per day (bpd), the largest reduction since 2020. Brent crude futures gained 15 cents, or 0.2%, to $93.52 per barrel by 1340 GMT after settling 1.7% up in the previous session. U.S. West Texas Intermediate (WTI) crude futures rose 14 cents, or 0.2%, to $87.90 after closing 1.4% up on Wednesday. The agreement between the Organization of Petroleum Exporting Countries (OPEC) and allies including Russia, a group known collectively as OPEC+, comes ahead [&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-527672","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\/527672","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=527672"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/527672\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=527672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=527672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=527672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}