{"id":43639,"date":"2021-03-30T12:29:37","date_gmt":"2021-03-30T08:29:37","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=43639"},"modified":"2021-03-30T12:29:39","modified_gmt":"2021-03-30T08:29:39","slug":"oil-falling-with-the-opening-of-the-suez-canal-and-attention-turns-to-opec-cuts","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-falling-with-the-opening-of-the-suez-canal-and-attention-turns-to-opec-cuts\/03\/30\/market-updates\/","title":{"rendered":"Oil Falling With The Opening of The Suez Canal And Attention Turns to OPEC+ Cuts"},"content":{"rendered":"\n<p>Oil prices retreated on Tuesday, March 30th, while navigation in the Suez Canal resumed days after being halted by the stranding of a giant ship, and the focus shifted to an OPEC+ meeting this week, where an extension of supply restrictions is expected to be discussed amid new closures to contain the spread of the Coronavirus.<\/p>\n\n\n\n<p>Brent crude was down 15 cents, or 0.2%, to $64.83 a barrel. US crude fell 12 cents, or 0.2%, to $61.44 a barrel.<\/p>\n\n\n\n<p>Traffic resumed in the Suez Canal yesterday evening, Monday, after the floatation of the huge container ship Ever Given, which blocked the waterway for nearly a week, leading to congestion of a large number of ships waiting to cross the shipping lane.<\/p>\n\n\n\n<p>With the fears of the current supply shortage receding, the market\u2019s attention turned to a meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, especially Russia, in Vienna, in what is known as the OPEC+ group.<\/p>\n\n\n\n<p>OPEC+ is discussing maintaining restrictions on products that have kept millions of barrels from the market daily to support prices, a strategy that has largely succeeded in recent months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices retreated on Tuesday, March 30th, while navigation in the Suez Canal resumed days after being halted by the stranding of a giant ship, and the focus shifted to an OPEC+ meeting this week, where an extension of supply restrictions is expected to be discussed amid new closures to contain the spread of the &hellip;<\/p>\n","protected":false},"author":9,"featured_media":31782,"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":[38,36],"tags":[6846],"class_list":["post-43639","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-oil"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/43639","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=43639"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/43639\/revisions"}],"predecessor-version":[{"id":43640,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/43639\/revisions\/43640"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31782"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=43639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=43639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=43639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}