{"id":527795,"date":"2022-10-07T11:06:56","date_gmt":"2022-10-07T05:36:56","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=527795"},"modified":"2022-10-07T12:57:39","modified_gmt":"2022-10-07T07:27:39","slug":"oil-extends-gains-after-opec-agrees-to-slash-crude-output","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-extends-gains-after-opec-agrees-to-slash-crude-output\/","title":{"rendered":"Oil extends gains after OPEC+ agrees to slash crude output"},"content":{"rendered":"<p>Oil prices stabilised near three-week highs on Thursday after OPEC+ agreed to further tighten global crude supply with a deal to slash production by about 2 million barrels per day, the largest reduction since 2020. <\/p>\n<p>Brent crude futures for December settlement edged up 4 cents to $93.41 per barrel by 0538 GMT after settling 1.7 per cent higher in the previous session.<\/p>\n<p>US West Texas Intermediate (WTI) crude futures for November delivery gained 2 cents to $87.78 per barrel, building on a 1.4 per cent 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 stabilised near three-week highs on Thursday after OPEC+ agreed to further tighten global crude supply with a deal to slash production by about 2 million barrels per day, the largest reduction since 2020. Brent crude futures for December settlement edged up 4 cents to $93.41 per barrel by 0538 GMT after settling 1.7 per cent higher in the previous session. US West Texas Intermediate (WTI) crude futures for November delivery gained 2 cents to $87.78 per barrel, building on a 1.4 per cent rise on Tuesday. The agreement between the Organization of Petroleum Exporting Countries (OPEC) and allies [&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-527795","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\/527795","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=527795"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/527795\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=527795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=527795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=527795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}