{"id":626313,"date":"2024-01-04T10:20:33","date_gmt":"2024-01-04T04:50:33","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=626313"},"modified":"2024-01-04T11:48:44","modified_gmt":"2024-01-04T06:18:44","slug":"rising-oil-supply-could-lead-to-tough-time-for-traders-all-eyes-on-opec-and-allies-for-support","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/rising-oil-supply-could-lead-to-tough-time-for-traders-all-eyes-on-opec-and-allies-for-support\/","title":{"rendered":"Rising oil supply could lead to tough time for traders, all eyes on OPEC and allies for support"},"content":{"rendered":"<p>Supply is back in the driver\u2019s seat for global oil markets. <\/p>\n<p>At issue is rising crude production from non-OPEC+ nations including the US, which could outstrip global demand that\u2019s still growing but at a slower pace. The oil cartel\u2019s response has been to pledge deeper output cuts, but traders are skeptical they\u2019ll be sufficiently implemented to fully eliminate a surplus. <\/p>\n<p>The combination has already pushed crude to its first annual decline since 2020 \u2014 both Brent and West Texas Intermediate fell over 10% last year \u2014 upending expectations of higher prices stemming from a post-pandemic recovery. Complicating the picture further, speculators have tightened their grip on the market, fueling price swings that are sometimes divorced from fundamentals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Supply is back in the driver\u2019s seat for global oil markets. At issue is rising crude production from non-OPEC+ nations including the US, which could outstrip global demand that\u2019s still growing but at a slower pace. The oil cartel\u2019s response has been to pledge deeper output cuts, but traders are skeptical they\u2019ll be sufficiently implemented to fully eliminate a surplus. The combination has already pushed crude to its first annual decline since 2020 \u2014 both Brent and West Texas Intermediate fell over 10% last year \u2014 upending expectations of higher prices stemming from a post-pandemic recovery. Complicating the picture further, [&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":[130,195,138],"tags":[],"class_list":["post-626313","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/626313","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=626313"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/626313\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=626313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=626313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=626313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}