{"id":12,"date":"2007-02-12T18:51:09","date_gmt":"2007-02-12T18:51:09","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/?p=12"},"modified":"2007-02-12T18:51:09","modified_gmt":"2007-02-12T18:51:09","slug":"oil-falls-as-opec-resists-output-cuts","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2007\/02\/12\/oil-falls-as-opec-resists-output-cuts\/","title":{"rendered":"Oil falls as Opec resists output cuts"},"content":{"rendered":"<p><span class=\"bodystrong\"><strong>Oil<\/strong><\/span> prices dropped more than $2 at one stage on Monday after Ali al-Naimi, the energy minister of Saudi Arabia, warned that the Organisation of the Petroleum Exporting Countries might keep production quotas unchanged when the oil cartel meets again next month.<\/p>\n<p>Opec ministers from Kuwait, Nigeria and Algeria have said they see no need for further supply cuts. The group has proposed output cuts of 1.7m barrels a day since November.<\/p>\n<div class=\"ad-placeholder ad-mpusky\" id=\"ad-placeholder-mpusky\">ICE Brent for March delivery fell $2.04 to $56.97 a barrel in late afternoon trade. With the March Brent contract expiring at the close of trade on Tuesday, there was more dealing in the April Brent contract, which slipped $1.91 to $57.86 a barrel.<\/div>\n<p>March West Texas Intermediate eased $1.73 to $58.16 a barrel in early afternoon trade on the New York Mercantile Exchange. March WTI popped through the $60 level on Friday for the first time since January 3.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices dropped more than $2 at one stage on Monday after Ali al-Naimi, the energy minister of Saudi Arabia,<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[35],"tags":[],"class_list":["post-12","post","type-post","status-publish","format-standard","hentry","category-oil"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/12","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=12"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/12\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=12"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=12"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=12"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}