{"id":567836,"date":"2023-04-03T11:06:00","date_gmt":"2023-04-03T05:36:00","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=567836"},"modified":"2023-04-03T12:05:38","modified_gmt":"2023-04-03T06:35:38","slug":"opec-surprise-output-cuts-lift-oil-prices-by-5-bbl","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/opec-surprise-output-cuts-lift-oil-prices-by-5-bbl\/","title":{"rendered":"OPEC+ surprise output cuts lift oil prices by $5\/bbl"},"content":{"rendered":"<p>Oil prices surged on Monday, jolted by a surprise announcement by OPEC+ to cut production further in what top producer Saudi Arabia called a precautionary measure to support market stability.<\/p>\n<p>Brent crude traded at $84.26 a barrel by 0347 GMT, up $4.37, or 5.5% after touching the highest in a month at $86.44 earlier in the session.<\/p>\n<p>U.S. West Texas Intermediate crude was at $79.90 a barrel, up $4.23, or 5.6% after earlier hitting the highest level since late January.<\/p>\n<p>The Organization of the Petroleum Exporting Countries and their allies including Russia shook markets by announcing production cuts of about 1.16 million barrels per day on Sunday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices surged on Monday, jolted by a surprise announcement by OPEC+ to cut production further in what top producer Saudi Arabia called a precautionary measure to support market stability. Brent crude traded at $84.26 a barrel by 0347 GMT, up $4.37, or 5.5% after touching the highest in a month at $86.44 earlier in the session. U.S. West Texas Intermediate crude was at $79.90 a barrel, up $4.23, or 5.6% after earlier hitting the highest level since late January. The Organization of the Petroleum Exporting Countries and their allies including Russia shook markets by announcing production cuts of about [&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":[130],"tags":[],"class_list":["post-567836","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/567836","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=567836"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/567836\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=567836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=567836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=567836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}