{"id":4475,"date":"2015-01-13T07:54:18","date_gmt":"2015-01-13T12:54:18","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4475"},"modified":"2015-01-13T07:54:18","modified_gmt":"2015-01-13T12:54:18","slug":"oil-drops-below-45-u-s-stockpiles-may-speed-collapse","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4475","title":{"rendered":"Oil Drops Below $45; U.S. Stockpiles May Speed Collapse"},"content":{"rendered":"<p><a href=\"http:\/\/www.bloomberg.com\/news\/2015-01-13\/oil-drops-from-5-1-2-year-low-as-u-s-supply-seen-adding-to-glut.html\" target=\"_blank\"><span class=\"Apple-style-span\">Oil Drops Below $45; U.S. Stockpiles May Speed Collapse<\/span><\/a><\/p>\n<p>Oil extended losses to trade below $45 a barrel amid speculation that U.S. crude stockpiles will increase, exacerbating a global supply glut that\u2019s driven prices to the lowest in more than 5 1\/2 years.<\/p>\n<p>Futures fell as much as 4.1 percent in\u00a0<a href=\"http:\/\/topics.bloomberg.com\/new-york\/\">New York<\/a>, declining for a third day.\u00a0<a class=\"web_ticker\" title=\"Get Quote\" href=\"http:\/\/www.bloomberg.com\/quote\/DOEASCRD:IND\">Crude inventories<\/a>\u00a0probably gained by 1.75 million barrels last week, a Bloomberg News survey showed before government data tomorrow. The<a href=\"http:\/\/topics.bloomberg.com\/united-arab-emirates\/\">United Arab Emirates<\/a>, a member of the Organization of Petroleum Exporting Countries, will continue to expand output capacity, while shale drillers will probably be the first to curb production as prices fall, according to Energy Minister Suhail Al Mazrouei.<\/p>\n<p>Oil slumped almost 50 percent last year, the most since the 2008 financial crisis, as the U.S. pumped at the fastest rate in more than three decades and OPEC resisted calls to cut production. Goldman Sachs Group Inc. said crude needs to drop to $40 a barrel to \u201cre-balance\u201d the market, while Societe Generale SA also reduced its price forecasts.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil Drops Below $45; U.S. Stockpiles May Speed Collapse Oil extended losses to trade below $45 a barrel amid speculation that U.S. crude stockpiles will increase, exacerbating a global supply glut that\u2019s driven prices to the lowest in more than 5 1\/2 years. Futures fell as much as 4.1 percent in\u00a0New York, declining for a [&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":[589,1775,2646,596,597,600],"class_list":["post-4475","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-demand","tag-oil-price-collapse","tag-oil-stockpiles","tag-oil-supply","tag-oil-supply-glut","tag-opec"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4475","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=4475"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4475\/revisions"}],"predecessor-version":[{"id":4476,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4475\/revisions\/4476"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}