{"id":597734,"date":"2023-08-16T09:59:46","date_gmt":"2023-08-16T04:29:46","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=597734"},"modified":"2023-08-16T10:56:08","modified_gmt":"2023-08-16T05:26:08","slug":"oil-prices-drop-over-1-due-to-intensifying-pressure-of-chinese-economy","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-drop-over-1-due-to-intensifying-pressure-of-chinese-economy\/","title":{"rendered":"Oil prices drop over 1% due to intensifying pressure of Chinese economy"},"content":{"rendered":"<p>NEW YORK (Reuters) -Oil prices fell over 1% on Tuesday on sluggish Chinese economic data coupled with fears that Beijing&#8217;s unexpected cut in key policy rates was not sufficiently substantial to rejuvenate the country&#8217;s sputtering post-pandemic recovery. <\/p>\n<p>Brent crude futures fell $1.31, or 1.5%, to $84.90 a barrel by 10:56 a.m EDT (1456 GMT), while U.S. West Texas Intermediate crude fell $1.44, or 1.8% to $81.07. <\/p>\n<p>Supply cuts by Saudi Arabia and Russia, part of the OPEC+ group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies, have helped to galvanise a rally in prices over the past seven weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK (Reuters) -Oil prices fell over 1% on Tuesday on sluggish Chinese economic data coupled with fears that Beijing&#8217;s unexpected cut in key policy rates was not sufficiently substantial to rejuvenate the country&#8217;s sputtering post-pandemic recovery. Brent crude futures fell $1.31, or 1.5%, to $84.90 a barrel by 10:56 a.m EDT (1456 GMT), while U.S. West Texas Intermediate crude fell $1.44, or 1.8% to $81.07. Supply cuts by Saudi Arabia and Russia, part of the OPEC+ group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies, have helped to galvanise a rally in prices over the past [&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-597734","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\/597734","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=597734"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/597734\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=597734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=597734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=597734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}