{"id":3870,"date":"2015-01-02T08:44:16","date_gmt":"2015-01-02T13:44:16","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3870"},"modified":"2015-01-02T08:48:24","modified_gmt":"2015-01-02T13:48:24","slug":"oil-hits-new-post-2009-low-below-56-as-supply-glut-prevails-reuters","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3870","title":{"rendered":"Oil hits new post-2009 low below $56 as supply glut prevails | Reuters"},"content":{"rendered":"<p><a href=\"http:\/\/www.reuters.com\/article\/2015\/01\/02\/us-markets-oil-idUSKBN0KB06A20150102\">Oil hits new post-2009 low below $56 as supply glut prevails | Reuters<\/a>.<\/p>\n<p style=\"font-size: 15px; font-family: georgia, 'times new roman', serif; line-height: 23px; padding: 0px; margin: 0px 0px 20px 0px;\">(Reuters) &#8211;\u00a0<a class=\"vglnk\" style=\"color: #006e97; text-decoration: none; cursor: pointer; outline-style: none; outline-width: initial; outline-color: initial;\" href=\"http:\/\/bit.ly\/1svUBlX\" rel=\"nofollow\">Brent\u00a0crude<\/a>\u00a0LCOc1 reversed early gains on Friday to fall to a fresh post-2009 low below $56 a barrel, as a glut of oil that has halved prices since June outweighed investors positioning at the start of the year for a possible eventual recovery.<\/p>\n<p style=\"font-size: 15px; font-family: georgia, 'times new roman', serif; line-height: 23px; padding: 0px; margin: 0px 0px 20px 0px;\">Brent has slumped to its lowest in more than five years, as top exporter\u00a0Saudi Arabia\u00a0and other large Gulf producers have declined to cut production in the face of fast-growing U.S. shale oil output, despite pleas from other members in the Organization of the Petroleum Exporting Countries (OPEC).<\/p>\n<p style=\"font-size: 15px; font-family: georgia, 'times new roman', serif; line-height: 23px; padding: 0px; margin: 0px 0px 20px 0px;\">&#8220;With no production cuts in the offing and a significant demand response years away, oversupply looks to be with us for a while,&#8221; said RBN Energy analyst Rusty Braziel in a note. &#8220;$100 a barrelcrude oil\u00a0prices are in the rear view mirror, at least for a couple of years.&#8221;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil hits new post-2009 low below $56 as supply glut prevails | Reuters. (Reuters) &#8211;\u00a0Brent\u00a0crude\u00a0LCOc1 reversed early gains on Friday to fall to a fresh post-2009 low below $56 a barrel, as a glut of oil that has halved prices since June outweighed investors positioning at the start of the year for a possible eventual [&hellip;]<\/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":[589,1775,596,600,1358],"class_list":["post-3870","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-demand","tag-oil-price-collapse","tag-oil-supply","tag-opec","tag-us-shale"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3870","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=3870"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3870\/revisions"}],"predecessor-version":[{"id":3872,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3870\/revisions\/3872"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}