{"id":589876,"date":"2023-07-10T09:58:04","date_gmt":"2023-07-10T04:28:04","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=589876"},"modified":"2023-07-10T10:27:33","modified_gmt":"2023-07-10T04:57:33","slug":"saudi-crude-oil-cuts-throw-last-years-standout-economy-into-slow-lane","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-crude-oil-cuts-throw-last-years-standout-economy-into-slow-lane\/","title":{"rendered":"Saudi crude oil cuts throw last year&#8217;s standout economy into slow lane"},"content":{"rendered":"<p>Saudi Arabia\u2019s decision to extend its oil production cuts \u2014 part of a so far largely unsuccessful bid to raise prices \u2014 may trigger an economic contraction in what was the Group of 20\u2019s fastest-growing country last year. <\/p>\n<p>It would be a stark turnaround for the $1 trillion economy, which surged almost 9% in 2022, helping Crown Prince Mohammed bin Salman invest tens of billions of dollars in everything from sports to tourism and new cities. <\/p>\n<p>The boom was propelled by record crude output of around 10.5 million barrels a day and prices averaging $100 a barrel as Russia\u2019s invasion of Ukraine roiled energy markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia\u2019s decision to extend its oil production cuts \u2014 part of a so far largely unsuccessful bid to raise prices \u2014 may trigger an economic contraction in what was the Group of 20\u2019s fastest-growing country last year. It would be a stark turnaround for the $1 trillion economy, which surged almost 9% in 2022, helping Crown Prince Mohammed bin Salman invest tens of billions of dollars in everything from sports to tourism and new cities. The boom was propelled by record crude output of around 10.5 million barrels a day and prices averaging $100 a barrel as Russia\u2019s invasion [&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":[135,130,169],"tags":[],"class_list":["post-589876","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/589876","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=589876"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/589876\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=589876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=589876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=589876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}