{"id":582087,"date":"2023-06-05T12:05:51","date_gmt":"2023-06-05T06:35:51","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=582087"},"modified":"2023-06-05T12:37:31","modified_gmt":"2023-06-05T07:07:31","slug":"saudi-arabia-pledges-big-oil-cuts-in-july-as-opec-extends-deal-into-2024","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-arabia-pledges-big-oil-cuts-in-july-as-opec-extends-deal-into-2024\/","title":{"rendered":"Saudi Arabia pledges big oil cuts in July as OPEC+ extends deal into 2024"},"content":{"rendered":"<p>Saudi Arabia will make a deep cut to its output in July on top of a broader OPEC+ deal to limit supply into 2024 as the group seeks to boost flagging oil prices. Saudi\u2019s energy ministry said the country\u2019s output would drop to 9 million barrels per day (bpd) in July from around 10 million bpd in May, the biggest reduction in years.<\/p>\n<p>\u201cThis is a Saudi lollipop,\u201d Saudi Energy Minister Prince Abdulaziz told a news conference. \u201cWe wanted to ice the cake. We always want to add suspense. We don\u2019t want people to try to predict what we do\u2026 This market needs stabilisation\u201d.OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, pumps around 40% of the world\u2019s crude, meaning its policy decisions can have a major impact on oil prices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia will make a deep cut to its output in July on top of a broader OPEC+ deal to limit supply into 2024 as the group seeks to boost flagging oil prices. Saudi\u2019s energy ministry said the country\u2019s output would drop to 9 million barrels per day (bpd) in July from around 10 million bpd in May, the biggest reduction in years. \u201cThis is a Saudi lollipop,\u201d Saudi Energy Minister Prince Abdulaziz told a news conference. \u201cWe wanted to ice the cake. We always want to add suspense. We don\u2019t want people to try to predict what we do\u2026 [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-582087","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/582087","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=582087"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/582087\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=582087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=582087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=582087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}