{"id":637736,"date":"2024-03-05T10:27:23","date_gmt":"2024-03-05T04:57:23","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=637736"},"modified":"2024-03-05T12:34:33","modified_gmt":"2024-03-05T07:04:33","slug":"crude-oil-extends-fall-as-chinas-pledge-to-transform-economy-fails-to-impress","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/crude-oil-extends-fall-as-chinas-pledge-to-transform-economy-fails-to-impress\/","title":{"rendered":"Crude oil extends fall as China\u2019s pledge to transform economy fails to impress"},"content":{"rendered":"<p>Oil prices fell for a second day on Tuesday as pledges by China, the world\u2019s biggest crude importer, to transform its economy amid stuttering growth since the COVID pandemic failed to impress investors concerned about slower consumption. Brent futures for May fell 3 cents to $82.77 a barrel by 0159 GMT, while U.S. West Texas Intermediate (WTI) fell 11 cents, to $78.63. <\/p>\n<p>Brent settled 75 cents lower at $82.80 a barrel on Monday, while WTI settled down $1.24 at $78.74 a barrel. China vowed to \u201ctransform\u201d its economic development model and curb industrial overcapacity while setting an economic growth target for 2024 of around 5%, similar to last year\u2019s goal and in line with analysts\u2019 expectations, according to an official work report released on Tuesday as part of this week\u2019s meeting of the National People\u2019s Congress.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell for a second day on Tuesday as pledges by China, the world\u2019s biggest crude importer, to transform its economy amid stuttering growth since the COVID pandemic failed to impress investors concerned about slower consumption. Brent futures for May fell 3 cents to $82.77 a barrel by 0159 GMT, while U.S. West Texas Intermediate (WTI) fell 11 cents, to $78.63. Brent settled 75 cents lower at $82.80 a barrel on Monday, while WTI settled down $1.24 at $78.74 a barrel. China vowed to \u201ctransform\u201d its economic development model and curb industrial overcapacity while setting an economic growth target [&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-637736","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\/637736","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=637736"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/637736\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=637736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=637736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=637736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}