{"id":46654,"date":"2021-06-07T23:37:00","date_gmt":"2021-06-07T19:37:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=46654"},"modified":"2021-06-08T02:46:40","modified_gmt":"2021-06-07T22:46:40","slug":"oil-finishes-lower-as-chinese-imports-plummet","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-finishes-lower-as-chinese-imports-plummet\/06\/07\/market-updates\/","title":{"rendered":"Oil Finishes Lower as Chinese Imports Plummet"},"content":{"rendered":"\n<p>Oil prices closed lower on Monday, giving up their two-year highs that were registered by the end of last week.<\/p>\n\n\n\n<p>A drop in Chinese oil imports might have discouraged the positive expectations for demand recovery in the coming months.<\/p>\n\n\n\n<p>Brent crude futures for August delivery declined by 40 cents, or 0.6%, to close at $71.49 per barrel.<\/p>\n\n\n\n<p>Meanwhile, the West Texas Intermediate (WTI) crude futures for July delivery lost 39 cents, or 0.6%, to finish at $69.23 per barrel.<\/p>\n\n\n\n<p>Earlier today, the U.S. benchmark crude futures went as high as $70 a barrel for the first time since October 2018.<\/p>\n\n\n\n<p>The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Mohammad Barkindo, said today that the OPEC+ alliance expects decreasing crude inventories over the coming period.<\/p>\n\n\n\n<p>It is worth noting that major producers recently decided to ease output cuts as the global economy recovers from the coronavirus pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices closed lower on Monday, giving up their two-year highs that were registered by the end of last week. A drop in Chinese oil imports might have discouraged the positive expectations for demand recovery in the coming months. Brent crude futures for August delivery declined by 40 cents, or 0.6%, to close at $71.49 &hellip;<\/p>\n","protected":false},"author":10,"featured_media":44454,"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-46654","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\/46654","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\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=46654"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/46654\/revisions"}],"predecessor-version":[{"id":46655,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/46654\/revisions\/46655"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/44454"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=46654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=46654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=46654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}