{"id":3199,"date":"2014-12-18T07:43:20","date_gmt":"2014-12-18T12:43:20","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3199"},"modified":"2014-12-18T07:43:20","modified_gmt":"2014-12-18T12:43:20","slug":"oil-jumps-3-percent-to-63-as-energy-firms-slash-investments-business-reuters","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3199","title":{"rendered":"Oil jumps 3 percent to $63 as energy firms slash investments | Business | Reuters"},"content":{"rendered":"

Oil jumps 3 percent to $63 as energy firms slash investments | Business | Reuters<\/a>.<\/p>\n

LONDON<\/span>\u00a0(Reuters) – Brent crude jumped 3 percent to above $63 a barrel on Thursday, extending a rebound from five-year lows this week as oil’s six-month price rout forced more energy firms to cut investments in new production.<\/p>\n

Oil this week slumped as low as $58.50 and has almost halved since June as fast-growing U.S. shale output overwhelms demand, with losses accelerating after producer group OPEC decided not to cut output at its meeting last month.<\/p>\n

But signs that lower prices are threatening future production have given some traders pause. Oil prices were volatile on Wednesday, briefly spiking as much as 6 percent as players rushed to close short positions, before falling back.<\/p>\n

At 1109 GMT on Thursday, Brent for February delivery was $2.09 higher at $63.27, after settling up $1.17 in the prior session.<\/p>\n

U.S. crude for January delivery, which expires after Friday’s settlement,<\/p>\n

<\/p>\n

<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil jumps 3 percent to $63 as energy firms slash investments | Business | Reuters. LONDON\u00a0(Reuters) – Brent crude jumped 3 percent to above $63 a barrel on Thursday, extending a rebound from five-year lows this week as oil’s six-month price rout forced more energy firms to cut investments in new production. Oil this week […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[1996,129,1995,592,600],"class_list":["post-3199","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-capital-expenditures","tag-chevron","tag-oil-investments","tag-oil-price","tag-opec"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3199"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3199\/revisions"}],"predecessor-version":[{"id":3200,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3199\/revisions\/3200"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}