{"id":49576,"date":"2022-10-05T18:46:57","date_gmt":"2022-10-05T14:46:57","guid":{"rendered":"https:\/\/www.uaebarq.ae\/en\/?p=49576"},"modified":"2022-10-05T18:46:58","modified_gmt":"2022-10-05T14:46:58","slug":"opec-agrees-deep-cuts-to-oil-production-despite-u-s-pressure","status":"publish","type":"post","link":"https:\/\/www.uaebarq.ae\/en\/2022\/10\/05\/opec-agrees-deep-cuts-to-oil-production-despite-u-s-pressure\/","title":{"rendered":"OPEC+ agrees deep cuts to oil production despite U.S. pressure"},"content":{"rendered":"\n<p>OPEC+ agreed on its deepest cuts to oil production since the 2020 COVID pandemic at a Vienna meeting on Wednesday, curbing supply in an already tight market despite pressure from the United States and others to pump more.<br><br> The cut could spur a recovery in oil prices that have dropped to about $90 from $120 three months ago on fears of a global economic recession, rising US interest rates and a stronger dollar.<br> The United States had pushed OPEC not to proceed with the cuts, arguing that fundamentals don&#8217;t support them, a source familiar with the matter said.<br><br>Sources said it remained unclear if cuts could include additional voluntary reductions by members such as Saudi Arabia, or if they could include existing under-production by the group. OPEC+ fell about 3.6 million barrels per day short of its output target in August.<br><br>Reuters<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OPEC+ agreed on its deepest cuts to oil production since the 2020 COVID pandemic at a Vienna meeting on Wednesday, curbing supply in an already tight market despite pressure from the United States and others to pump more. The cut could spur a recovery in oil prices that have dropped to about $90 from $120 &hellip;<\/p>\n","protected":false},"author":2,"featured_media":49577,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,4],"tags":[],"class_list":["post-49576","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-economy","category-news"],"_links":{"self":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/49576","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/comments?post=49576"}],"version-history":[{"count":1,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/49576\/revisions"}],"predecessor-version":[{"id":49578,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/49576\/revisions\/49578"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media\/49577"}],"wp:attachment":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media?parent=49576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/categories?post=49576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/tags?post=49576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}