{"id":540661,"date":"2022-12-03T11:11:17","date_gmt":"2022-12-03T05:41:17","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=540661"},"modified":"2022-12-03T13:43:59","modified_gmt":"2022-12-03T08:13:59","slug":"opec-set-to-stick-or-cut-more-amid-plan-to-cap-russian-oil-price-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/opec-set-to-stick-or-cut-more-amid-plan-to-cap-russian-oil-price-2\/","title":{"rendered":"OPEC set to stick or cut more amid plan to cap Russian oil price"},"content":{"rendered":"<p>Major oil producers are expected to stick to their current output strategy or even slash production further when they meet on Sunday in the face of falling prices, a potential Russian oil price cap and an embargo on Russian crude shipments. <\/p>\n<p>At their last ministerial session in October the 13-nation Organization of the Petroleum Exporting Countries headed by Riyadh and its 10 allies led by Moscow, collectively known as OPEC+, agreed to reduce output by two million barrels per day (bpd) from November.<\/p>\n<p>The OPEC+ reduction amounted to the biggest cut since the height of the Covid pandemic in 2020. <\/p>\n<p>Amid fears of economic slowdown, Sunday&#8217;s the cartel&#8217;s meeting via videoconference convenes ahead of the EU enforcing an embargo on Russian crude shipments from Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major oil producers are expected to stick to their current output strategy or even slash production further when they meet on Sunday in the face of falling prices, a potential Russian oil price cap and an embargo on Russian crude shipments. At their last ministerial session in October the 13-nation Organization of the Petroleum Exporting Countries headed by Riyadh and its 10 allies led by Moscow, collectively known as OPEC+, agreed to reduce output by two million barrels per day (bpd) from November. The OPEC+ reduction amounted to the biggest cut since the height of the Covid pandemic in 2020. [&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-540661","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\/540661","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=540661"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/540661\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=540661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=540661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=540661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}