{"id":7536,"date":"2015-03-23T11:44:08","date_gmt":"2015-03-23T11:44:08","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=7536"},"modified":"2015-03-23T11:44:08","modified_gmt":"2015-03-23T11:44:08","slug":"oil-prices-down-in-asia","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-down-in-asia\/","title":{"rendered":"Oil prices down in Asia"},"content":{"rendered":"<p>Singapore: Oil prices fell in Asian trade today after Saudi Arabia said it was pumping more oil, exacerbating a global supply glut, analysts said.<\/p>\n<p>US benchmark West Texas Intermediate (WTI) for May delivery was down 57 cents at $46.00 and Brent tumbled 43 cents to $54.89.<\/p>\n<p>Daniel Ang, an investment analyst with Phillip Futures in Singapore, said it was &#8220;the same fundamental issue of supply and demand&#8221; affecting the market.<\/p>\n<p>&#8220;Oil prices are falling because of the bearish sentiment that people have towards oil right now,&#8221; he told AFP.<\/p>\n<p>Prices have collapsed by about 60% since June as global supplies of the commodity, boosted by strong production in the United States and the OPEC cartel, outpace demand.<\/p>\n<p>Bloomberg News quoted Saudi Arabia&#8217;s oil minister Ali al- Naimi as saying yesterday that his country is producing almost 10 million barrels of crude a day.<\/p>\n<p>Saudi Arabia, the main producer in the Organization of the Petroleum Exporting Countries (OPEC), pumped 9.85 million barrels a day in February, according to Bloomberg.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore: Oil prices fell in Asian trade today after Saudi Arabia said it was pumping more oil, exacerbating a global supply glut, analysts said. US benchmark West Texas Intermediate (WTI) for May delivery was down 57 cents at $46.00 and Brent tumbled 43 cents to $54.89. Daniel Ang, an investment analyst with Phillip Futures in Singapore, said it was &#8220;the same fundamental issue of supply and demand&#8221; affecting the market. &#8220;Oil prices are falling because of the bearish sentiment that people have towards oil right now,&#8221; he told AFP. Prices have collapsed by about 60% since June as global supplies [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-7536","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/7536","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=7536"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/7536\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=7536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=7536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=7536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}