{"id":18771,"date":"2020-10-15T16:57:11","date_gmt":"2020-10-15T14:57:11","guid":{"rendered":"https:\/\/www.stocexpo.com\/?p=18771"},"modified":"2020-10-15T16:57:41","modified_gmt":"2020-10-15T14:57:41","slug":"oil-slips-as-new-lockdown-measures-threaten-demand-recovery","status":"publish","type":"post","link":"https:\/\/www.stocexpo.com\/en\/2020\/10\/15\/oil-slips-as-new-lockdown-measures-threaten-demand-recovery\/","title":{"rendered":"Oil slips as new lockdown measures threaten demand recovery"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"18771\" class=\"elementor elementor-18771\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-800f046 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"800f046\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4e2120dd\" data-id=\"4e2120dd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-79ffcd9a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"79ffcd9a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3e9097b4\" data-id=\"3e9097b4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1ffdcdd6 elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"1ffdcdd6\" data-element_type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Oil slips as new lockdown measures threaten demand recovery<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-11e53b22 elementor-align-left elementor-widget elementor-widget-post-info\" data-id=\"11e53b22\" data-element_type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-7a16641 elementor-inline-item\" itemprop=\"datePublished\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-date\">\n\t\t\t\t\t\t\t\t\t\t<time>15\/10\/2020<\/time>\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-28b354c0 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"28b354c0\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-20a3734f elementor-widget elementor-widget-text-editor\" data-id=\"20a3734f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"lead\"><p>Oil prices fell on Thursday as new restrictions to stem a surge in COVID-19 infections have increased uncertainty over the outlook for economic growth and a recovery in fuel demand.<\/p><p>Brent crude futures dropped $1.48, or 3.44%, to trade at $41.83 per barrel, while West Texas Intermediate crude futures were down $1.49, or 3.63%, to trade at $39.55 per barrel.<\/p><p>Some European countries are reviving curfews and lockdowns to try to contain the rise in new coronavirus cases, with Britain expected to impose tougher COVID-19 restrictions on London from midnight on Friday.<\/p><p>A third of France\u2019s population has been placed under nightly curfew to tackle climbing infections.<\/p><p>India, the world\u2019s third biggest oil consumer, is on track to overtake United States with the world\u2019s most COVID-19 infections, and is bracing for a surge of cases in coming weeks as it heads into its main holiday season.<\/p><p>\u201cIf demand weakens noticeably, OPEC+ will have no choice but to call off its production increase if it does not want to risk a renewed oversupply and another price slide,\u201d Commerzbank said.<\/p><p>OPEC and its allies, together called OPEC+, had 102% compliance with their agreement to cut oil supply in September, two OPEC+ sources told Reuters ahead of a technical committee meeting on Thursday.<\/p><p>OPEC+ is due to taper production cuts by 2 million barrels per day (bpd), from 7.7 million bpd currently, in January.<\/p><p>The International Energy Agency said on Wednesday that a second wave of coronavirus infections could complicate efforts by producers to balance the market.<\/p><p>A fall in U.S. inventories last week limited the fall in prices, however.<\/p><p>The American Petroleum Institute industry group said U.S. crude, gasoline and distillate inventories all fell in the week to Oct. 9, according to a report released after market close on Wednesday.<\/p><p>The U.S. Energy Information Administration is due to release its weekly data on Thursday, a day later than normal following a public holiday.<\/p><p>Source: <a href=\"https:\/\/www.cnbc.com\/world\/?region=world\">CNBC<\/a><\/p><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7360b72d\" data-id=\"7360b72d\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c5bfd48 elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" 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elementor-repeater-item-6550970\" href=\"https:\/\/twitter.com\/StocExpo\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Twitter<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-twitter\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-facebook-f elementor-animation-push elementor-repeater-item-2ea5aad\" href=\"https:\/\/www.facebook.com\/StocExpo\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Facebook-f<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-facebook-f\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-linkedin-in elementor-animation-push elementor-repeater-item-f5eda18\" href=\"https:\/\/www.linkedin.com\/showcase\/stocexpo-&#038;-tank-storage\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Linkedin-in<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-linkedin-in\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-instagram elementor-animation-push elementor-repeater-item-b98d648\" href=\"https:\/\/www.instagram.com\/stocexpo_tankstorage_events\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Instagram<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-instagram\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Oil prices fell on Thursday as new restrictions to stem a surge in COVID-19 infections have increased uncertainty over the outlook for economic growth and a recovery in fuel demand. Brent crude futures dropped $1.48, or 3.44%, to trade at $41.83 per barrel, while West Texas Intermediate crude futures were down $1.49, or 3.63%, to [&hellip;]<\/p>\n","protected":false},"author":85,"featured_media":18772,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Oil slips as new lockdown measures threaten demand recovery | StocExpo Industry News","_seopress_titles_desc":"Oil slips as new lockdown measures threaten demand recovery. Find out more here, and catch-up with the latest industry news with StocExpo.","_seopress_robots_index":"","footnotes":""},"categories":[322,268],"tags":[],"edition":[],"class_list":["post-18771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-homepage","category-in-the-news"],"_links":{"self":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/posts\/18771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/users\/85"}],"replies":[{"embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/comments?post=18771"}],"version-history":[{"count":0,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/posts\/18771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/media\/18772"}],"wp:attachment":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/media?parent=18771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/categories?post=18771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/tags?post=18771"},{"taxonomy":"edition","embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/edition?post=18771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}