{"id":1659145,"date":"2022-09-26T21:53:00","date_gmt":"2022-09-27T01:53:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1659145"},"modified":"2022-09-26T21:53:13","modified_gmt":"2022-09-27T01:53:13","slug":"oil-prices-steady-on-prospect-of-balancing-supply-after-steep-selloff","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-prices-steady-on-prospect-of-balancing-supply-after-steep-selloff\/","title":{"rendered":"Oil prices steady on prospect of balancing supply after steep selloff"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Foil-prices-steady-on-prospect-of-balancing-supply-after-steep-selloff%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1659145&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Laila Kearney<\/p>\n<p>(Reuters) \u2013     Oil steadied in early Asian trade on Tuesday as indications that producer alliance OPEC+ sought to avoid a collapse in prices, along with a slight softening in the U.S. dollar, tempered an earlier selloff.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Brent crude futures rose 26 cents, or 0.3%, to $84.32 per barrel by 0033 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 19 cents at $76.90 per barrel. Both benchmarks sank by about $2 a barrel on Monday, largely on U.S. dollar strength. <\/p>\n<p>Iraq Oil Minister Ihsan Abdul Jabbar on Monday said the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, known as OPEC+, were monitoring the oil price situation, wanting to maintain balance in the markets.<\/p>\n<p>\u201cWe don\u2019t want a sharp increase in oil prices or a collapse,\u201d he said in an interview on Iraqi state TV.<\/p>\n<p>Abdul Jabbar\u2019s comments helped to support oil, which settled at nine-month lows, largely on the surging U.S. dollar.<\/p>\n<p>OPEC+ has boosted output this year after record cuts put in place in 2020 due to demand destruction caused by the COVID-19 pandemic. But in recent months, the organization failed to meet its planned output increases.<\/p>\n<p>An easing of the U.S. dollar, which trades inversely with oil, helped to support prices. But while the U.S. dollar weakened in post-settlement trade, earlier on Monday it hit its strongest level since May 2002.<\/p>\n<p>Uncertainty over supply disruptions caused by the Russia-Ukraine war, along with tightening monetary policy around the world that threatens economic downturns, also kept prices from moving higher. <\/p>\n<p> (Reporting by Laila Kearney in New York; Editing by Kenneth Maxwell)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/oil-prices-steady-on\/attachment\/a-view-shows-oil-terminal-kozmino-near-nakhodka\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8Q00Y-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8Q00Y-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Laila Kearney (Reuters) \u2013 Oil steadied in early Asian trade on Tuesday as indications that producer alliance OPEC+ sought to avoid a collapse in prices, along with a slight<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1659145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1659145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1659145"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1659145\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1659145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1659145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1659145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}