{"id":94020,"date":"2023-12-13T17:07:28","date_gmt":"2023-12-13T13:07:28","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=94020"},"modified":"2023-12-13T17:07:30","modified_gmt":"2023-12-13T13:07:30","slug":"opec-exaggerated-concerns-about-oil-demand-are-the-reason-for-the-decline-in-prices","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/opec-exaggerated-concerns-about-oil-demand-are-the-reason-for-the-decline-in-prices\/12\/13\/market-updates\/","title":{"rendered":"OPEC: \u201cexaggerated\u201d concerns about oil demand are the reason for the decline in prices"},"content":{"rendered":"\n<p>On Wednesday, the Organization of the Petroleum Exporting Countries (OPEC) expressed cautious optimism regarding the fundamental factors influencing the oil market in 2024. OPEC attributed the recent decline in oil prices to &#8220;exaggerated concerns&#8221; about demand. Despite the recent drop in prices, OPEC maintained its relatively high forecast for oil consumption in 2024.<\/p>\n\n\n\n<p>Brent crude had experienced a decline to a six-month low, reaching approximately $72 a barrel. This marked a significant decrease from its peak in September 2023, when it reached around $98 a barrel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Wednesday, the Organization of the Petroleum Exporting Countries (OPEC) expressed cautious optimism regarding the fundamental factors influencing the oil market in 2024. OPEC attributed the recent decline in oil prices to &#8220;exaggerated concerns&#8221; about demand. Despite the recent drop in prices, OPEC maintained its relatively high forecast for oil consumption in 2024. Brent crude &hellip;<\/p>\n","protected":false},"author":9,"featured_media":61175,"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":[10566,6846,7004,6875],"class_list":["post-94020","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-manufacturing-activity","tag-oil","tag-opec-2","tag-russia"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/94020","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=94020"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/94020\/revisions"}],"predecessor-version":[{"id":94021,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/94020\/revisions\/94021"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61175"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=94020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=94020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=94020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}