{"id":79837,"date":"2023-02-11T02:19:57","date_gmt":"2023-02-10T22:19:57","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=79837"},"modified":"2023-02-11T03:40:18","modified_gmt":"2023-02-10T23:40:18","slug":"crude-oil-rises-over-2-on-russian-plan-to-cut-output","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/crude-oil-rises-over-2-on-russian-plan-to-cut-output\/02\/11\/market-updates\/","title":{"rendered":"Crude oil rises over 2% on Russian plan to cut output"},"content":{"rendered":"\n<p>Oil prices rose more than 2% on Friday and posted weekly gains of over 8%, as Russia announced plans to reduce oil production next month after the West imposed price caps on the country&#8217;s crude and fuel.<br><br>Brent crude futures rose to settle at $1.89, or 2.2%, to $86.39 a barrel. U.S. West Texas Intermediate crude futures (WTI) were up $1.66, or 2.1%, at $79.72. Brent posted a weekly gain of 8.1%, while WTI gained 8.6%.<br><br>Russia plans to reduce its crude oil production in March by 500,000 barrels per day (bpd), or about 5% of output, Deputy Prime Minister Alexander Novak said.<br><br>Western nations have imposed restrictions, trying to choke off Russia&#8217;s oil revenues in response to the country&#8217;s actions in Ukraine. The production cut indicates that the European Union&#8217;s recent price cap and ban on Russian oil products, which came into effect on Feb. 5, have had some impact.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose more than 2% on Friday and posted weekly gains of over 8%, as Russia announced plans to reduce oil production next month after the West imposed price caps on the country&#8217;s crude and fuel.Brent crude futures rose to settle at $1.89, or 2.2%, to $86.39 a barrel. U.S. West Texas Intermediate crude &hellip;<\/p>\n","protected":false},"author":13,"featured_media":77220,"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":[8159,9007],"class_list":["post-79837","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-crude-oil-prices","tag-russian-oil"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79837","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=79837"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79837\/revisions"}],"predecessor-version":[{"id":79842,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79837\/revisions\/79842"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/77220"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=79837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=79837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=79837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}