{"id":543247,"date":"2022-12-15T09:15:16","date_gmt":"2022-12-15T03:45:16","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=543247"},"modified":"2022-12-15T10:45:42","modified_gmt":"2022-12-15T05:15:42","slug":"oil-prices-up-amid-forecasts-of-2023-demand-uptick-from-opec-iea","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-up-amid-forecasts-of-2023-demand-uptick-from-opec-iea\/","title":{"rendered":"Oil prices up amid forecasts of 2023 demand uptick from OPEC, IEA"},"content":{"rendered":"<p>LONDON (Reuters) -Oil prices rose on Wednesday after OPEC and the International Energy Agency (IEA) both forecast a rebound in demand over the course of next year and as U.S. rate hikes are expected to ease alongside slowing inflation.<\/p>\n<p>Brent crude futures rose 76 cents, or 0.9%, to $81.44 per barrel by 1144 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 80 cents at $76.19.<\/p>\n<p>The Brent contract is firmly back in a backwardated market structure whereby front-month loading barrels trade higher than later deliveries, which indicates worries about oversupply are subsiding.<\/p>\n<p>The structure had dipped into contango last week, with front-month deliveries cheaper than later-loading ones.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (Reuters) -Oil prices rose on Wednesday after OPEC and the International Energy Agency (IEA) both forecast a rebound in demand over the course of next year and as U.S. rate hikes are expected to ease alongside slowing inflation. Brent crude futures rose 76 cents, or 0.9%, to $81.44 per barrel by 1144 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 80 cents at $76.19. The Brent contract is firmly back in a backwardated market structure whereby front-month loading barrels trade higher than later deliveries, which indicates worries about oversupply are subsiding. The structure had dipped into [&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-543247","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\/543247","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=543247"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/543247\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=543247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=543247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=543247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}