{"id":569677,"date":"2023-04-14T09:20:25","date_gmt":"2023-04-14T03:50:25","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=569677"},"modified":"2023-04-14T09:48:21","modified_gmt":"2023-04-14T04:18:21","slug":"opec-cites-downside-risk-to-summer-oil-outlook-holds-demand-forecast","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/opec-cites-downside-risk-to-summer-oil-outlook-holds-demand-forecast\/","title":{"rendered":"OPEC cites downside risk to summer oil outlook, holds demand forecast"},"content":{"rendered":"<p>OPEC on Thursday flagged downside risks to summer oil demand as part of the backdrop to shock output cuts announced by OPEC+ producers on April 2, although the producer group maintained its forecast for global oil demand growth in 2023.<\/p>\n<p>Some members of OPEC+, which includes OPEC, Russia and others, announced new voluntary production cuts on April 2. The unexpected move has prompted oil to rally towards $87 a barrel from below $80.<\/p>\n<p>OPEC+ gave little information on the reasons for the surprise cuts, saying in a statement they were a &#8220;precautionary measure&#8221; to support market stability. Some OPEC delegates told Reuters they did not know the exact reasons for the reduction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OPEC on Thursday flagged downside risks to summer oil demand as part of the backdrop to shock output cuts announced by OPEC+ producers on April 2, although the producer group maintained its forecast for global oil demand growth in 2023. Some members of OPEC+, which includes OPEC, Russia and others, announced new voluntary production cuts on April 2. The unexpected move has prompted oil to rally towards $87 a barrel from below $80. OPEC+ gave little information on the reasons for the surprise cuts, saying in a statement they were a &#8220;precautionary measure&#8221; to support market stability. Some OPEC delegates [&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-569677","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\/569677","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=569677"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/569677\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=569677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=569677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=569677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}