{"id":607744,"date":"2023-10-09T00:00:00","date_gmt":"2023-10-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/"},"modified":"2023-10-09T00:00:00","modified_gmt":"2023-10-09T00:00:00","slug":"opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/","title":{"rendered":"OPEC+ maintains oil supply curbs. Oil prices plunge anyway."},"content":{"rendered":"

OPEC+ keeps oil supply tight: <\/strong>The alliance of oil producers known as OPEC+ chose to maintain current output levels last week, a move that will likely further fuel a rally that has pushed prices towards USD 100 a barrel. In a statement<\/a> following a ministerial meeting on Wednesday, OPEC said its members expressed support for Saudi Arabia and Russia\u2019s voluntary supply curbs, which have removed a combined 1.3 mn barrels of oil a day from the global market until the end of the year. Tightening supply has sparked a rally that saw Brent rise almost 30% in Q3 to surpass USD 95.<\/p>\n

This wasn\u2019t the reaction they had in mind: <\/strong> Oil prices suffered their biggest single-day loss in over a year on Wednesday as concerns over falling demand outweighed the decision by OPEC+. The sell\u2013off continued the sharp reversal in fortunes for the market since late September that has been Brent fall 11%.<\/p>\n

Three-figure oil isn\u2019t out of the question, according to one industry insider: <\/strong> Last week\u2019s decision by OPEC+ could push prices to USD 100 a barrel, the chief economist of Norwegian oil and gas company Equinor said, according to Reuters<\/a>.<\/p>\n

<\/a> <\/a> <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

19,357<\/p>\n<\/td>\n

\n

-2.6% (YTD: +32.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE) <\/strong><\/p>\n<\/td>\n

\n

Buy 30.83<\/p>\n<\/td>\n

\n

Sell 30.96<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB <\/strong><\/p>\n<\/td>\n

\n

Buy 30.85<\/p>\n<\/td>\n

\n

Sell 30.95<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE <\/strong><\/p>\n<\/td>\n

\n

19.25% deposit<\/p>\n<\/td>\n

\n

20.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul <\/strong><\/p>\n<\/td>\n

\n

10,596<\/p>\n<\/td>\n

\n

-1.6% (YTD: +1.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX <\/strong><\/p>\n<\/td>\n

\n

9,756<\/p>\n<\/td>\n

\n

-0.1% (YTD: -4.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM <\/strong><\/p>\n<\/td>\n

\n

4,165<\/p>\n<\/td>\n

\n

+0.5% (YTD: +24.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 5 <\/strong> 0 <\/strong> 0 <\/strong><\/p>\n<\/td>\n

\n

4,309<\/p>\n<\/td>\n

\n

+1.2% (YTD: +12.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100 <\/strong><\/p>\n<\/td>\n

\n

7,495<\/p>\n<\/td>\n

\n

+0.6% (YTD: +0.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50 <\/strong><\/p>\n<\/td>\n

\n

4,144<\/p>\n<\/td>\n

\n

+1.1% (YTD: +9.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude <\/strong><\/p>\n<\/td>\n

\n

USD 84.58<\/p>\n<\/td>\n

\n

+0.6%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 3.34<\/p>\n<\/td>\n

\n

+5.4%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold <\/strong><\/p>\n<\/td>\n

\n

USD 1,845.20<\/p>\n<\/td>\n

\n

+0.7%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC <\/strong><\/p>\n<\/td>\n

\n

USD 27,962<\/p>\n<\/td>\n

\n

+0.1% (YTD: +68.8%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL- <\/strong><\/p>\n

The EGX30 fell 2.6% at yesterday\u2019s close <\/strong> on turnover of EGP 2.05 bn (5.5% below the 90-day average). International investors were net sellers. The index is up 32.6% YTD.<\/p>\n

In the green: <\/strong>Alexandria Containers and Cargo Handling (+2.7%), Abu Qir Fertilizers (+0.9%) and Ezz Steel (+0.8%).<\/p>\n

In the red: <\/strong>Beltone Financial Holding (-5.8%), Qalaa Holding (-5.7%) and Juhayna (-5.7%).<\/p>\n","protected":false},"excerpt":{"rendered":"

The oil market experienced its worst day of trading in over a year following the decision due concerns that slumping economic growth will hit demand<\/p>\n","protected":false},"author":1,"featured_media":607745,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[93,72,119,91,128,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-607744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-energy","tag-enterpriseam","tag-financial-markets","tag-oil-and-gas","tag-opec","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"1827f8cb-3783-4d2a-9687-e5e9588aff48","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/435.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Oil prices plunge despite OPEC+ supply curbs","related_issue":[607715],"teaser":"The oil market experienced its worst day of trading in over a year following the decision due concerns that slumping economic growth will hit demand","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.a93550fe-524e-477b-abf3-894bc461aafb.mp3"},"yoast_head":"\nOPEC+ maintains oil supply curbs. Oil prices plunge anyway. - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OPEC+ maintains oil supply curbs. Oil prices plunge anyway.\" \/>\n<meta property=\"og:description\" content=\"The oil market experienced its worst day of trading in over a year following the decision due concerns that slumping economic growth will hit demand\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-09T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/435.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"OPEC+ maintains oil supply curbs. Oil prices plunge anyway.\",\"datePublished\":\"2023-10-09T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/\"},\"wordCount\":302,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/435.jpg?fit=%2C&ssl=1\",\"keywords\":[\"energy\",\"EnterpriseAM\",\"Financial Markets\",\"oil and gas\",\"OPEC\",\"Planet Finance\"],\"articleSection\":[\"PLANET FINANCE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/\",\"name\":\"OPEC+ maintains oil supply curbs. Oil prices plunge anyway. - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/435.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2023-10-09T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/435.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/435.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"OPEC+ maintains oil supply curbs. Oil prices plunge anyway.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"OPEC+ maintains oil supply curbs. Oil prices plunge anyway. - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/","og_locale":"en_US","og_type":"article","og_title":"OPEC+ maintains oil supply curbs. Oil prices plunge anyway.","og_description":"The oil market experienced its worst day of trading in over a year following the decision due concerns that slumping economic growth will hit demand","og_url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2023-10-09T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/435.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"OPEC+ maintains oil supply curbs. Oil prices plunge anyway.","datePublished":"2023-10-09T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/"},"wordCount":302,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/435.jpg?fit=%2C&ssl=1","keywords":["energy","EnterpriseAM","Financial Markets","oil and gas","OPEC","Planet Finance"],"articleSection":["PLANET FINANCE"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/","url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/","name":"OPEC+ maintains oil supply curbs. Oil prices plunge anyway. - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/435.jpg?fit=%2C&ssl=1","datePublished":"2023-10-09T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/435.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/435.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"OPEC+ maintains oil supply curbs. Oil prices plunge anyway."}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/435.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/435.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/435.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":562685,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/opec-agree-to-raise-supply-in-july\/","url_meta":{"origin":607744,"position":0},"title":"OPEC+ agree to raise supply in July","author":"enterpriseam admin","date":"2 June 2021","format":false,"excerpt":"OPEC+ oil producers have agreed to continue relaxing curbs on oil production in July as a global economic recovery boosts demand for crude in the US, China and Europe, the ministers of the group announced following a virtual meeting yesterday, Bloomberg reports. The loose alliance of producers is now expected\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":563742,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/14\/oil-prices-resume-their-advance-hit-2-5-year-high\/","url_meta":{"origin":607744,"position":1},"title":"Oil prices resume their advance, hit 2.5-year high","author":"enterpriseam admin","date":"14 July 2021","format":false,"excerpt":"US oil hit its highest price in more than two-and-a-half years yesterday as the International Energy Agency warned of an intensifying supply crunch as prospects of OPEC+ agreeing to raise supply remain low, Bloomberg says. WTI futures in New York gained 1.6% yesterday to close to USD 75.25\/bbl, the highest\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":563819,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/opec-finally-reaches-an-agreement-to-raise-oil-supply\/","url_meta":{"origin":607744,"position":2},"title":"OPEC+ finally reaches an agreement to raise oil supply","author":"enterpriseam admin","date":"25 July 2021","format":false,"excerpt":"OPEC+ finally reached an agreement last Sunday to gradually increase production until the end of 2022, according to the Financial Times. From August until the end of next year, OPEC+ will add 400k barrels per day each month, extending the supply cuts to December 2022 instead of April. This will\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547028,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/06\/markets-shrug-after-opec-ups-oil-supply-increases-the-us-turns-to-foes-for-oil\/","url_meta":{"origin":607744,"position":3},"title":"Markets shrug after OPEC ups oil supply increases + the US turns to foes for oil","author":"enterpriseam admin","date":"6 June 2022","format":false,"excerpt":"Oil producers to temporarily up supply: OPEC+ has agreed to boost oil production in July and August by 650k barrels a day from the current 400k bpd, the alliance of oil producers announced in a statement following its Thursday meeting, bringing forward an increase it had initially scheduled for September.\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549078,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/01\/opec-cuts-oil-supply-forecast-for-this-year-and-the-next\/","url_meta":{"origin":607744,"position":4},"title":"OPEC+ cuts oil supply forecast for this year and the next","author":"enterpriseam admin","date":"1 September 2022","format":false,"excerpt":"Oil prices fell for a third consecutive month in August as the combination of global monetary tightening to check rampant inflation and China\u2019s ongoing zero-covid strategy put the brakes on demand, Bloomberg reports. The three-month slump in prices is the longest since the pandemic-era and breaks a months-long bull run\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558217,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/01\/us-crude-continues-to-climb-while-opec-oil-production-hits-15-month-peak\/","url_meta":{"origin":607744,"position":5},"title":"US crude continues to climb while OPEC+ oil production hits 15 month peak","author":"enterpriseam admin","date":"1 August 2021","format":false,"excerpt":"The price of US crude rose for the fourth month in a row in July as demand continued to rise while supply remained tight, according to Bloomberg. WTI futures closed out the week up 2.6%, reaching USD 73.95 per barrel. Notably, demand has remained strong despite worries over the spread\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/607744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=607744"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/607744\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/607715"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/607745"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=607744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=607744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=607744"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=607744"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=607744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}