{"id":53876,"date":"2021-11-02T00:46:30","date_gmt":"2021-11-01T20:46:30","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=53876"},"modified":"2021-11-02T00:46:35","modified_gmt":"2021-11-01T20:46:35","slug":"oil-prices-surge-on-demand-despite-china-reserves-release","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-surge-on-demand-despite-china-reserves-release\/11\/02\/market-updates\/","title":{"rendered":"Oil prices surge on demand despite China reserves release"},"content":{"rendered":"\n<p>Oil prices settled higher on Monday as expectations of solid winter demand and a belief that a key producer group will not change the current production pace fast helped reverse initial losses caused by the release of fuel reserves by No. 1 world energy consumer China.<br><br>Brent crude futures settled up 99 cents, or 1.1 %, to $84.71 per barrel after hitting a session low of $83.03. U.S. WTI crude futures gained 84 cents, or 0.6%, to $84.05, having fallen to $82.74 earlier.<br><br>Crude oil prices are expected to hold near $80 as the year ends, as tight supplies and higher gas bills encourage a switch to crude for use as a power generation fuel. <br><br>Post-pandemic demand rebound as OPEC+ is sticking to gradual, monthly production increases of 400,000 barrels per day, despite calls for more oil from major consumers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices settled higher on Monday as expectations of solid winter demand and a belief that a key producer group will not change the current production pace fast helped reverse initial losses caused by the release of fuel reserves by No. 1 world energy consumer China.Brent crude futures settled up 99 cents, or 1.1 %, &hellip;<\/p>\n","protected":false},"author":13,"featured_media":39976,"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":[7156,7935,7436,7123,6936,7004,6909],"class_list":["post-53876","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-brent","tag-chinese-reserves","tag-crude-oil","tag-demand","tag-oil-prices","tag-opec-2","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/53876","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\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=53876"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/53876\/revisions"}],"predecessor-version":[{"id":53880,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/53876\/revisions\/53880"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/39976"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=53876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=53876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=53876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}