{"id":585274,"date":"2023-06-19T10:05:02","date_gmt":"2023-06-19T04:35:02","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=585274"},"modified":"2023-06-19T10:42:06","modified_gmt":"2023-06-19T05:12:06","slug":"oil-prices-come-off-earlier-gains-as-banks-cut-china-growth-forecasts","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-come-off-earlier-gains-as-banks-cut-china-growth-forecasts\/","title":{"rendered":"Oil prices come off earlier gains as banks cut China growth forecasts"},"content":{"rendered":"<p>Global oil prices fell on Monday, backing off last week&#8217;s gains as questions over China&#8217;s economy outweighed OPEC+ output cuts and the seventh straight drop in the number of oil and gas rigs operating in the United States.<\/p>\n<p>Brent crude lost 68 cents to trade at $75.93 a barrel by 0042 GMT, while US West Texas Intermediate (WTI) crude was down 59 cents to $71.19.<\/p>\n<p>Last week, Brent posted a gain of 2.4 per cent and WTI rose 2.3 per cent.<\/p>\n<p>A number of major banks have cut their 2023 gross domestic product growth forecasts for China after May data last week showed the post-Covid recovery in the world&#8217;s second-largest economy was faltering.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global oil prices fell on Monday, backing off last week&#8217;s gains as questions over China&#8217;s economy outweighed OPEC+ output cuts and the seventh straight drop in the number of oil and gas rigs operating in the United States. Brent crude lost 68 cents to trade at $75.93 a barrel by 0042 GMT, while US West Texas Intermediate (WTI) crude was down 59 cents to $71.19. Last week, Brent posted a gain of 2.4 per cent and WTI rose 2.3 per cent. A number of major banks have cut their 2023 gross domestic product growth forecasts for China after May data [&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":[146,130,177],"tags":[],"class_list":["post-585274","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/585274","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=585274"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/585274\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=585274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=585274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=585274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}