{"id":5658,"date":"2023-05-26T14:10:41","date_gmt":"2023-05-26T14:10:41","guid":{"rendered":"http:\/\/roydadnaft.ir\/English\/?p=5658"},"modified":"2023-05-26T14:13:08","modified_gmt":"2023-05-26T14:13:08","slug":"oil-prices-up-amid-opec-supply-cut-uncertainty","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/5658\/","title":{"rendered":"Oil prices up amid OPEC+ supply cut uncertainty"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\">\n<p>Roydad Naft News Agency &#8211; Oil prices ticked up on Friday as the market weighed conflicting messages on supply from Russia and Saudi Arabia ahead of the next OPEC+ policy meeting.<\/p>\n\n\n\n<p>Brent crude was up 77 cents, or 1%, at $77.03 a barrel at 1342 GMT, while U.S. West Texas Intermediate rose 96 cents, or 1.3%, to $72.79 a barrel.<\/p>\n\n\n\n<p>Benchmarks had settled more than $2 per barrel lower on Thursday after Russian Deputy Prime Minister Alexander Novak\u00a0played down\u00a0the prospect of further OPEC+ production cuts at its meeting in Vienna on June 4.<\/p>\n\n\n\n<p>Both prices were still poised to post a second week of gains. A deal to raise the U.S. debt ceiling,\u00a0which appears in sight, would likely boost oil prices.<\/p>\n\n\n\n<p>Russian President Vladimir Putin said on Wednesday that energy prices were approaching\u00a0&#8220;economically justified&#8221; levels, also indicating there could be no immediate change to OPEC+&#8217;s production policy.<\/p>\n\n\n\n<p>The Russian remarks contrasted with comments this week from Saudi Arabian Energy Minister Prince Abdulaziz bin Salman, the de-facto leader of the Organization of Petroleum Exporting Countries (OPEC),\u00a0warning short sellers\u00a0to &#8220;watch out&#8221;.<\/p>\n\n\n\n<p>Some investors interpreted that as a signal OPEC+ could consider further output cuts.<\/p>\n\n\n\n<p>Worries of weaker-than-expected demand growth globally capped gains ahead of an expected rise in oil demand in the second half of the year, especially from China.<\/p>\n\n\n\n<p>Meanwhile,\u00a0bets on falling oil prices\u00a0are on the rise.<\/p>\n\n\n\n<p>The dollar has strengthened this month against a basket of major peers , making dollar-denominated commodities such as oil more expensive for those holding other currencies.<\/p>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2023-05-26T14:13:08+00:00\"> 26 May 2023<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"Roydad Naft News Agency &#8211; Oil prices ticked up on Friday as the market weighed conflicting messages on supply from Russia and Saudi Arabia ahead of the next OPEC+ policy meeting. Brent crude was up 77 cents, or 1%, at $77.03 a barrel at 1342 GMT, while U.S. West Texas Intermediate rose 96 cents, or [&hellip;]","protected":false},"author":1,"featured_media":5659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,36,19,16],"tags":[],"services":[],"class_list":["post-5658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-lastnews","category-news","category-oil"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/5658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=5658"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/5658\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/5659"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=5658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=5658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=5658"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=5658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}