{"id":582832,"date":"2023-06-07T12:04:47","date_gmt":"2023-06-07T06:34:47","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=582832"},"modified":"2023-06-07T12:56:56","modified_gmt":"2023-06-07T07:26:56","slug":"crude-oil-prices-steady-as-fears-over-supply-tightness-counter-demand-woes","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/crude-oil-prices-steady-as-fears-over-supply-tightness-counter-demand-woes\/","title":{"rendered":"Crude oil prices steady as fears over supply tightness counter demand woes"},"content":{"rendered":"<p>Oil prices steadied on Wednesday after the previous session\u2019s losses, as demand concerns owing to slow global economic growth were offset by fears of tighter global supply following Saudi Arabia\u2019s pledge to deepen output cuts. Brent crude futures were up 9 cents, or 0.1%, at $76.38 a barrel at 0039 GMT. The U.S. West Texas Intermediate crude futures rose 11 cents, or 0.2%, to $71.85 a barrel.<\/p>\n<p>Both benchmarks eased about 1% on Tuesday, paring some of Monday\u2019s gains that were driven by top crude exporter Saudi Arabia\u2019s surprise pledge over the weekend to reduce output by 1 million barrels per day (bpd) to 9 million bpd in July. \u201cThe market has digested the news of Saudi\u2019s production cut and investors are now reluctant to take a large position because of mixed economic forecasts and indicators in the United States and China,\u201d said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices steadied on Wednesday after the previous session\u2019s losses, as demand concerns owing to slow global economic growth were offset by fears of tighter global supply following Saudi Arabia\u2019s pledge to deepen output cuts. Brent crude futures were up 9 cents, or 0.1%, at $76.38 a barrel at 0039 GMT. The U.S. West Texas Intermediate crude futures rose 11 cents, or 0.2%, to $71.85 a barrel. Both benchmarks eased about 1% on Tuesday, paring some of Monday\u2019s gains that were driven by top crude exporter Saudi Arabia\u2019s surprise pledge over the weekend to reduce output by 1 million barrels [&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-582832","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\/582832","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=582832"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/582832\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=582832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=582832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=582832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}