{"id":50235,"date":"2021-09-02T03:04:00","date_gmt":"2021-09-01T23:04:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=50235"},"modified":"2021-09-02T02:05:33","modified_gmt":"2021-09-01T22:05:33","slug":"oil-closes-mixed-following-opecs-output-decision","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-closes-mixed-following-opecs-output-decision\/09\/02\/market-updates\/","title":{"rendered":"Oil Closes Mixed Following OPEC\u2019s Output Decision"},"content":{"rendered":"\n<p>Oil prices showed a mixed performance on Wednesday after the OPEC+ alliance decided to maintain the gradual production increases, easing previous output cuts.<\/p>\n\n\n\n<p>The global benchmark, Brent crude, closed lower for the second day despite expectations for a rising demand this year, with fears over disruptions due to Hurricane Ida.<\/p>\n\n\n\n<p>Meanwhile, the U.S. benchmark WTI futures closed higher due to expectations of tight supplies due to the hurricane\u2019s impact on the refining activity near the Gulf of Mexico.<\/p>\n\n\n\n<p>Brent Crude futures for November delivery lost 4 cents, or 0.06%, to close at $71.59 per barrel.<\/p>\n\n\n\n<p>WTI futures added 9 cents, or 0.13%, to finish at $68.59 per barrel.<\/p>\n\n\n\n<p>In addition, EIA data showed earlier today that U.S. crude oil stockpiles fell by 7.2 million barrels to 425.4 million barrels, and remain below the five-year average by nearly 6%.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices showed a mixed performance on Wednesday after the OPEC+ alliance decided to maintain the gradual production increases, easing previous output cuts. The global benchmark, Brent crude, closed lower for the second day despite expectations for a rising demand this year, with fears over disruptions due to Hurricane Ida. Meanwhile, the U.S. benchmark WTI &hellip;<\/p>\n","protected":false},"author":10,"featured_media":32066,"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-50235","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\/50235","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=50235"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/50235\/revisions"}],"predecessor-version":[{"id":50236,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/50235\/revisions\/50236"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32066"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=50235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=50235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=50235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}