{"id":18471,"date":"2020-06-03T14:00:36","date_gmt":"2020-06-03T14:00:36","guid":{"rendered":"http:\/\/watchdogplusmedia.com\/?p=18471"},"modified":"2020-06-03T14:00:41","modified_gmt":"2020-06-03T14:00:41","slug":"crude-oil-prices-surge-as-optimism-grows-for-production-cut-extension","status":"publish","type":"post","link":"https:\/\/watchdogplusmedia.com\/?p=18471","title":{"rendered":"Crude oil prices surge as optimism grows for production cut extension"},"content":{"rendered":"\n
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The prices of oil<\/a> in the international market witnessed a surge on Wednesday, with Brent, Nigeria\u2019s flagship crude grade rising to $40 over continued optimism that major producers will extend production cuts.<\/p>\n\n\n\n

Brent is reaching the $40 mark for the first time since March amidst heightened belief that there would be renewed demands for product as the world begins a gradual recovery from the COVID-19 pandemic.<\/p>\n\n\n\n

Brent crude futures for August rose 43 cents, or 1.1 per cent, at $40 a barrel, by 0252 GMT.<\/p>\n\n\n\n

Similarly, the U.S. West Texas Intermediate (WTI) crude futures gained 68 cents, or 1.9 per cent, at $37.49 a barrel, rising as much as $37.88, which is also the highest since March 6.<\/p>\n\n\n\n

The rise in the prices is coming on the heels of hopes that the Organisation of the Petroleum Exporting Countries (OPEC)<\/a> and other major producers including Russia and its allies, known as OPEC+, may extend production cuts of 9.7 million barrels per day (bpd), or about 10 per cent of global output, into July or August.<\/p>\n","protected":false},"excerpt":{"rendered":"

The prices of oil in the international market witnessed a surge on Wednesday, with Brent, Nigeria\u2019s flagship crude grade rising to $40 over continued optimism that major producers will extend production cuts. Brent is reaching the $40 mark for the first time since March amidst heightened belief that there would be renewed demands for product as the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_mi_skip_tracking":false},"categories":[14,43],"tags":[],"yoast_head":"\nCrude oil prices surge as optimism grows for production cut extension » WatchDog Plus Media<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/watchdogplusmedia.com\/?p=18471\" \/>\n<meta name=\"author\" content=\"Odofin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/watchdogplusmedia.com\/?p=18471#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/watchdogplusmedia.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"News\",\"item\":\"https:\/\/watchdogplusmedia.com\/?cat=14\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Crude oil prices surge as optimism grows for production cut extension\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Crude oil prices surge as optimism grows for production cut extension » WatchDog Plus Media","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/watchdogplusmedia.com\/?p=18471","author":"Odofin","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/watchdogplusmedia.com\/?p=18471#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/watchdogplusmedia.com\/"},{"@type":"ListItem","position":2,"name":"News","item":"https:\/\/watchdogplusmedia.com\/?cat=14"},{"@type":"ListItem","position":3,"name":"Crude oil prices surge as optimism grows for production cut extension"}]}]}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Odofin","author_link":"https:\/\/watchdogplusmedia.com\/?author=2"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/watchdogplusmedia.com\/?cat=14\" rel=\"category\">News<\/a> <a href=\"https:\/\/watchdogplusmedia.com\/?cat=43\" rel=\"category\">Petroleum<\/a>","rttpg_excerpt":"The prices of oil in the international market witnessed a surge on Wednesday, with Brent, Nigeria\u2019s flagship crude grade rising to $40 over continued optimism that major producers will extend production cuts. Brent is reaching the $40 mark for the first time since March amidst heightened belief that there would be renewed demands for product as the…","_links":{"self":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/18471"}],"collection":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18471"}],"version-history":[{"count":-4,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/18471\/revisions"}],"wp:attachment":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}