{"id":23402,"date":"2020-04-09T22:59:45","date_gmt":"2020-04-09T17:29:45","guid":{"rendered":"https:\/\/kashmir.today\/oil-producers-put-heads-together-over-output-cuts\/"},"modified":"2020-04-09T22:59:45","modified_gmt":"2020-04-09T17:29:45","slug":"oil-producers-put-heads-together-over-output-cuts","status":"publish","type":"post","link":"https:\/\/kashmir.watch\/?p=23402","title":{"rendered":"Oil producers put heads together over output cuts"},"content":{"rendered":"\n<p><em>Top oil producers started a crucial meeting on Thursday to discuss a possible cut in output after a collapse in demand due to the coronavirus and a Saudi-Russian price war caused the market to crash.<\/em><\/p>\n\n\n\n<p><em><a href=\"https:\/\/www.thehindu.com\/news\/international\/oil-producers-put-heads-together-over-output-cuts\/article31302756.ece\">AFP<\/a><\/em><\/p>\n\n\n\n<p>The videoconference meeting began between OPEC, its OPEC+ allies, including Russia and other key non-members.<\/p>\n\n\n\n<p>Oil prices rose sharply as the meeting opened, extending earlier big gains, but then fell back again later to post more modest gains as nervous traders took profits.<\/p>\n\n\n\n<p>The meeting is seen as the best chance of providing support to prices which have been wallowing near two-decade lows.<\/p>\n\n\n\n<p>Experts warn that without concerted action the commodity risks a steep sell-off.<\/p>\n\n\n\n<p>Last week U.S. President Donald Trump claimed Russia and Saudi Arabia would step back from their stand-off and agree to slash output.<\/p>\n\n\n\n<p>Then OPEC kingpin Saudi Arabia called for an urgent meeting of producers \u201cto try to reach a fair deal\u201d to \u201cstabilise the oil market\u201d following a phone call between its Crown Prince Mohammed bin Salman and Mr. Trump.<\/p>\n\n\n\n<p>Thursday\u2019s meeting intends to conclude an agreement to cut production by between 10 and 15 million barrels per day, Kuwait\u2019s Oil Minister Khaled al-Fadhel said in an interview with the Kuwaiti Al-Rai daily.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Top oil producers started a crucial meeting on Thursday to discuss a possible cut in output after a collapse in demand due to the coronavirus and a Saudi-Russian price war caused the market to crash. AFP The videoconference meeting began between OPEC, its OPEC+ allies, including Russia and other key non-members. Oil prices rose sharply [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23401,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-23402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news"],"_links":{"self":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts\/23402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23402"}],"version-history":[{"count":0,"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts\/23402\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}