{"id":582047,"date":"2023-06-05T09:49:37","date_gmt":"2023-06-05T04:19:37","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=582047"},"modified":"2023-06-05T12:07:22","modified_gmt":"2023-06-05T06:37:22","slug":"oil-jumps-2-on-saudi-plan-to-deepen-output-cuts-from-july","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-jumps-2-on-saudi-plan-to-deepen-output-cuts-from-july\/","title":{"rendered":"Oil jumps 2% on Saudi plan to deepen output cuts from July"},"content":{"rendered":"<p>Oil prices jumped more than $1 a barrel on Monday after the world&#8217;s top exporter Saudi Arabia pledged to cut production by another 1 million barrels per day from July, counteracting macroeconomic headwinds that have depressed markets.<\/p>\n<p>Brent crude futures were at $77.64 a barrel, up $1.51, or 2%, at 0014 GMT after earlier hitting a session-high of $78.73 a barrel.<\/p>\n<p>U.S. West Texas Intermediate crude climbed $1.41, or 2%, to $73.15 a barrel, after touching an intraday high of $75.06 a barrel.<\/p>\n<p>Both contracts extended gains after rising more than 2% on Friday as the Saudi energy ministry said on Sunday its output would drop to 9 million barrels per day (bpd) in July from around 10 million bpd in May, the kingdom&#8217;s biggest reduction in years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices jumped more than $1 a barrel on Monday after the world&#8217;s top exporter Saudi Arabia pledged to cut production by another 1 million barrels per day from July, counteracting macroeconomic headwinds that have depressed markets. Brent crude futures were at $77.64 a barrel, up $1.51, or 2%, at 0014 GMT after earlier hitting a session-high of $78.73 a barrel. U.S. West Texas Intermediate crude climbed $1.41, or 2%, to $73.15 a barrel, after touching an intraday high of $75.06 a barrel. Both contracts extended gains after rising more than 2% on Friday as the Saudi energy ministry said [&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":[130,191,136],"tags":[],"class_list":["post-582047","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/582047","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=582047"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/582047\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=582047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=582047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=582047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}