{"id":31407,"date":"2020-07-15T11:28:28","date_gmt":"2020-07-15T07:28:28","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=31407"},"modified":"2020-07-15T11:28:30","modified_gmt":"2020-07-15T07:28:30","slug":"oil-rises-after-a-drop-in-us-crude-stocks-eyes-on-opec","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-rises-after-a-drop-in-us-crude-stocks-eyes-on-opec\/07\/15\/market-updates\/","title":{"rendered":"Oil Rises After a Drop in US Crude Stocks, Eyes on OPEC"},"content":{"rendered":"\n<p>Crude oil prices rose on Wednesday after a sharp drop in US crude inventories as markets eyeing OPEC meeting later in the day on the future level of production cuts.<\/p>\n\n\n\n<p>Brent crude futures rose 19 cents, or 0.4%, to $ 43.09 a barrel, while West Texas Intermediate (WTI) futures rose 17 cents, or 0.4%, to $ 40.46 a barrel.<\/p>\n\n\n\n<p>Fuel demand had recovered slightly after the sharp drop due to Covid-19 pandemic, U.S. crude inventories fell 8.3M barrels for the week ending July 10, exceeding analyst expectations of 2.1M barrels, according to data from the API<\/p>\n\n\n\n<p>Major members of OPEC and its allies including Russia, OPEC +, are scheduled at their meeting to decide whether to extend the production cut of 9.7M bpd or reduce it to 7.7M bpd . OPEC and its allies have complied with 107% of the agreed cuts, Reuters Cited OPEC + source.<\/p>\n\n\n\n<p>The market is awaiting official figures from the Energy Information Administration (EIA) later on Wednesday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crude oil prices rose on Wednesday after a sharp drop in US crude inventories as markets eyeing OPEC meeting later in the day on the future level of production cuts. Brent crude futures rose 19 cents, or 0.4%, to $ 43.09 a barrel, while West Texas Intermediate (WTI) futures rose 17 cents, or 0.4%, to &hellip;<\/p>\n","protected":false},"author":9,"featured_media":31014,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[6846],"class_list":["post-31407","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-oil"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/31407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=31407"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/31407\/revisions"}],"predecessor-version":[{"id":31408,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/31407\/revisions\/31408"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31014"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=31407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=31407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=31407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}