{"id":4044,"date":"2015-01-04T20:47:44","date_gmt":"2015-01-05T01:47:44","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4044"},"modified":"2015-01-04T20:47:44","modified_gmt":"2015-01-05T01:47:44","slug":"oil-extends-decline-from-5-12-year-low-as-supply-glut-lingers-bloomberg","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4044","title":{"rendered":"Oil Extends Decline From 5 1\/2-Year Low as Supply Glut Lingers – Bloomberg"},"content":{"rendered":"

Oil Extends Decline From 5 1\/2-Year Low as Supply Glut Lingers – Bloomberg<\/a>.<\/p>\n

Oil fell for a third day, extending its decline from the lowest level in five and a half years amid signs a global supply glut that\u2019s driven crude into a\u00a0bear market<\/a>\u00a0may continue this year.<\/p>\n

Futures in\u00a0London<\/a>\u00a0dropped as much as 1.3 percent, after sliding 5.1 percent last week. Iraq plans to boost crude exports this month, according to the oil ministry in the second-largest producer of the Organization of Petroleum Exporting Countries. Venezuela President Nicolas Maduro is traveling to\u00a0China<\/a>to hold talks on financing and energy and will visit other OPEC member nations to develop an oil-pricing strategy.<\/p>\n

\u201cIraq\u2019s crude production is one of the contributors to the glut we\u2019ve been seeing,\u201d Hong Sung Ki, a commodities analyst at Samsung Futures Inc. in\u00a0Seoul<\/a>, said by phone. \u201cThe glut is expected to continue if demand fails to catch up with supplies.\u00a0Venezuela<\/a>\u2019s oil industry is in recession amid falling production but if it can attract new investments, it can boost output.\u201d<\/p>\n

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

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

Oil Extends Decline From 5 1\/2-Year Low as Supply Glut Lingers – Bloomberg. Oil fell for a third day, extending its decline from the lowest level in five and a half years amid signs a global supply glut that\u2019s driven crude into a\u00a0bear market\u00a0may continue this year. Futures in\u00a0London\u00a0dropped as much as 1.3 percent, after […]<\/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":[1750,589,1775,596,600],"class_list":["post-4044","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-bear-market","tag-oil-demand","tag-oil-price-collapse","tag-oil-supply","tag-opec"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4044","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=4044"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4044\/revisions"}],"predecessor-version":[{"id":4045,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4044\/revisions\/4045"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}