{"id":588938,"date":"2023-07-04T11:37:05","date_gmt":"2023-07-04T06:07:05","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=588938"},"modified":"2023-07-04T13:26:15","modified_gmt":"2023-07-04T07:56:15","slug":"oil-companies-to-wait-and-watch-fuel-prices-as-opec-extends-output-cut","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-companies-to-wait-and-watch-fuel-prices-as-opec-extends-output-cut\/","title":{"rendered":"Oil companies to wait and watch fuel prices as OPEC+ extends output cut"},"content":{"rendered":"<p>NEW DELHI: The wait for a reduction in pump rates just got longer after Saudi Arabia on Monday extended its voluntary oil production cut by a month till August and Russia supported the move to lift prices by pledging to reduce exports by 500,000 barrels per day (bpd). <\/p>\n<p>Coming amid demand concerns, the latest pledges \u2014 which will take the total OPEC+ outage to more than 5 million bpd, or 5% of daily global supply \u2014 lifted benchmark Brent prices marginally by 32 cents to $75.73 per barrel. <\/p>\n<p>The latest OPEC+ move is likely to prompt state-run fuel retailers also to extend the wait-and-watch mode on the issue of reducing petrol and diesel prices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: The wait for a reduction in pump rates just got longer after Saudi Arabia on Monday extended its voluntary oil production cut by a month till August and Russia supported the move to lift prices by pledging to reduce exports by 500,000 barrels per day (bpd). Coming amid demand concerns, the latest pledges \u2014 which will take the total OPEC+ outage to more than 5 million bpd, or 5% of daily global supply \u2014 lifted benchmark Brent prices marginally by 32 cents to $75.73 per barrel. The latest OPEC+ move is likely to prompt state-run fuel retailers also [&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":[130,219,137],"tags":[],"class_list":["post-588938","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/588938","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=588938"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/588938\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=588938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=588938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=588938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}