{"id":34838,"date":"2024-05-31T06:00:41","date_gmt":"2024-05-31T06:00:41","guid":{"rendered":"https:\/\/nigerdeltanews.ng\/crude-oil-prices-drop-ahead-of-opec-meeting\/"},"modified":"2024-05-31T06:00:41","modified_gmt":"2024-05-31T06:00:41","slug":"crude-oil-prices-drop-ahead-of-opec-meeting","status":"publish","type":"post","link":"https:\/\/nigerdeltanews.ng\/crude-oil-prices-drop-ahead-of-opec-meeting\/","title":{"rendered":"Crude oil prices drop ahead of OPEC meeting"},"content":{"rendered":"<div>\n<p>Crude oil prices have dropped amid anxiety surrounding the Organization of Petroleum Countries meeting at the weekend.<\/p>\n<p>Brent crude futures fell by $1.74, or 2.1 percent to settle at $81.86 a barrel.<\/p>\n<p>Similarly, U.S. West Texas Intermediate crude futures fell by $1.32, or 1.7 percent, to $77.91 a barrel.<\/p>\n<p>\u201cThe Weakness in gasoline markets have continued to drag down the rest of the oil complex,\u201d Alex Hodes, oil analyst at brokerage StoneX on Thursday according to Reuters.<\/p>\n<p>A further analysis showed that Oil investors are also cautious ahead of an OPEC+ meeting on June 2, 2024. Accordingly, the oil producers\u2019 countries group will decide whether to extend, deepen or unwind supply cuts.<\/p>\n<p>Soft fuel demand and rising global oil inventories may help convince OPEC+ producers, which include the Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia, to maintain supply cuts when they meet on June 2, OPEC+ delegates and analysts say.<\/p>\n<p>Crude oil prices drop ahead of OPEC meeting<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crude oil prices have dropped amid anxiety surrounding the Organization of Petroleum Countries meeting at the weekend. Brent crude futures&hellip;<\/p>\n","protected":false},"author":1,"featured_media":34839,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4161,665,15,9155],"tags":[317,519,669,16089,14057,180,670,9156,1204],"class_list":["post-34838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-crude-oil","category-news","category-opec","tag-ahead","tag-business","tag-crude","tag-drop","tag-meeting","tag-news","tag-oil","tag-opec","tag-prices"],"_links":{"self":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/posts\/34838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/comments?post=34838"}],"version-history":[{"count":0,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/posts\/34838\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/media\/34839"}],"wp:attachment":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/media?parent=34838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/categories?post=34838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/tags?post=34838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}