{"id":573552,"date":"2023-05-02T09:21:59","date_gmt":"2023-05-02T03:51:59","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=573552"},"modified":"2023-05-02T09:44:26","modified_gmt":"2023-05-02T04:14:26","slug":"oil-prices-decline-as-economic-growth-concerns-offset-opec-cuts","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-decline-as-economic-growth-concerns-offset-opec-cuts\/","title":{"rendered":"Oil prices decline as economic growth concerns offset Opec+ cuts"},"content":{"rendered":"<p>Oil fell on Monday as concern over the economic impact of the US Federal Reserve potentially raising interest rates and weaker Chinese manufacturing data outweighed support from Opec+ supply cuts taking effect this month. <\/p>\n<p>The Fed, which meets on May 2-3, is expected to increase interest rates by ano\u00adther 25 basis points. The US dollar rose against a basket of currencies on Monday, making oil more expensive for other currency holders. Brent crude fell 97 cents, or 1.2 per cent, to $79.36 a barrel by 1712 hrs (India time), while US West Texas Intermediate (WTI) crude slid $1.44, or 1.9 per cent, to trade at $75.34.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil fell on Monday as concern over the economic impact of the US Federal Reserve potentially raising interest rates and weaker Chinese manufacturing data outweighed support from Opec+ supply cuts taking effect this month. The Fed, which meets on May 2-3, is expected to increase interest rates by ano\u00adther 25 basis points. The US dollar rose against a basket of currencies on Monday, making oil more expensive for other currency holders. Brent crude fell 97 cents, or 1.2 per cent, to $79.36 a barrel by 1712 hrs (India time), while US West Texas Intermediate (WTI) crude slid $1.44, or 1.9 [&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-573552","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\/573552","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=573552"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/573552\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=573552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=573552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=573552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}