{"id":621501,"date":"2023-12-07T10:02:26","date_gmt":"2023-12-07T04:32:26","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=621501"},"modified":"2023-12-07T10:52:15","modified_gmt":"2023-12-07T05:22:15","slug":"oil-drops-2-as-markets-mull-opec-cuts-efficacy-macroeconomic-slowdowns","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-drops-2-as-markets-mull-opec-cuts-efficacy-macroeconomic-slowdowns\/","title":{"rendered":"Oil drops 2% as markets mull OPEC+ cuts&#8217; efficacy, macroeconomic slowdowns"},"content":{"rendered":"<p>Oil prices fell by 2% on Wednesday, as investors mulled the effectiveness of OPEC+ cuts against concerns of the potential impact of a worsening macroeconomic outlook on global demand. <\/p>\n<p>Brent crude futures fell $1.59, or 2.06%, to $75.61 a barrel by 1454 GMT. U.S. WTI crude futures fell by $1.67, or 2.31%, to $70.65 a barrel. <\/p>\n<p>The Organization of the Petroleum Exporting Countries and allies such as Russia (OPEC+) agreed on voluntary output cuts of about 2.2 million barrels per day (bpd) for the first quarter of 2024 late last week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell by 2% on Wednesday, as investors mulled the effectiveness of OPEC+ cuts against concerns of the potential impact of a worsening macroeconomic outlook on global demand. Brent crude futures fell $1.59, or 2.06%, to $75.61 a barrel by 1454 GMT. U.S. WTI crude futures fell by $1.67, or 2.31%, to $70.65 a barrel. The Organization of the Petroleum Exporting Countries and allies such as Russia (OPEC+) agreed on voluntary output cuts of about 2.2 million barrels per day (bpd) for the first quarter of 2024 late last week.<\/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-621501","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\/621501","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=621501"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/621501\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=621501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=621501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=621501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}