{"id":328218,"date":"2023-04-29T09:15:15","date_gmt":"2023-04-29T04:15:15","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=328218"},"modified":"2023-04-29T09:15:15","modified_gmt":"2023-04-29T04:15:15","slug":"oil-heads-for-another-monthly-decline-as-weak-us-data-weighs","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\/","title":{"rendered":"Oil heads for another monthly decline as weak US data weighs"},"content":{"rendered":"<p> Islamabad<br \/>\nOil prices were heading for another monthly decline on Friday after disappointing US economic data and uncertainty over further interest rate hikes weighed on the demand outlook.<br \/>\nBrent crude futures for June were up 42 cents, or 0.5 per cent, at $78.79 a barrel by 09:46 GMT while the more actively traded July contract was down 1 cent at $78.21. Brent is set for its fourth straight monthly fall.<br \/>\nBrent prices retraced earlier losses after data showed the euro zone returned to growth in the first quarter, albeit only modestly and more slowly than expected.<br \/>\nUS West Texas Intermediate (WTI) crude lost 15 cents, or 0.2pc, to trade at $74.61 a barrel and is set for its sixth straight monthly decline.<br \/>\nData on Thursday showed that US economic growth slowed more than expected in the first quarter.<br \/>\nInvestors are worried that potential interest rate hikes by inflation-fighting central banks could slow economic growth and dent energy demand in the United States, Britain and the European Union. The US Federal Reserve\u2019s next policy meeting is over May 2-3.<br \/>\nOn the supply side, Russian Deputy Prime Minister Alexander Novak on Thursday said the OPEC+ producer group saw no need for further output cuts despite lower than expected Chinese demand.<br \/>\nThe Organisation of the Petroleum Exporting Countries (OPEC) and allies including Russia, known collectively as OPEC+, this month cut its combined output target by about 1.16m barrels per day (bpd), which sent oil prices higher.<br \/>\nThe market rallied on the OPEC+ announcement but has since weakened on concern about possible recession and the impact that would have on demand.<br \/>\nEnergy Information Administration data this week showed that US crude oil and gasoline inventories fell more than expected last week as demand for the motor fuel picked up ahead of the peak summer driving season.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad Oil prices were heading for another monthly decline on Friday after disappointing US economic data and uncertainty over further interest rate hikes weighed on the demand outlook. Brent crude futures for June were up 42 cents, or 0.5 per cent, at $78.79 a barrel by 09:46 GMT while the more actively traded July contract [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-328218","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Oil heads for another monthly decline as weak US data weighs<\/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:\/\/leadpakistan.com.pk\/news\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil heads for another monthly decline as weak US data weighs\" \/>\n<meta property=\"og:description\" content=\"Islamabad Oil prices were heading for another monthly decline on Friday after disappointing US economic data and uncertainty over further interest rate hikes weighed on the demand outlook. Brent crude futures for June were up 42 cents, or 0.5 per cent, at $78.79 a barrel by 09:46 GMT while the more actively traded July contract [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-29T04:15:15+00:00\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:site\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Web Desk\" \/>\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:\\\/\\\/leadpakistan.com.pk\\\/news\\\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\\\/\"},\"author\":{\"name\":\"Web Desk\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#\\\/schema\\\/person\\\/6ef8309590ff620a99ce35559f54fd62\"},\"headline\":\"Oil heads for another monthly decline as weak US data weighs\",\"datePublished\":\"2023-04-29T04:15:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\\\/\"},\"wordCount\":306,\"publisher\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#organization\"},\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\\\/\",\"url\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\\\/\",\"name\":\"Oil heads for another monthly decline as weak US data weighs\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#website\"},\"datePublished\":\"2023-04-29T04:15:15+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Oil heads for another monthly decline as weak US data weighs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/\",\"name\":\"Daily Lead Pakistan\",\"description\":\"Daily Lead Pakistan\",\"publisher\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#organization\",\"name\":\"Daily lead Pakistan\",\"url\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/logo3.jpg\",\"contentUrl\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/logo3.jpg\",\"width\":1000,\"height\":154,\"caption\":\"Daily lead Pakistan\"},\"image\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/DailyLeadPak\\\/\",\"https:\\\/\\\/x.com\\\/DailyLeadPak\",\"https:\\\/\\\/instagram.com\\\/DailyLeadPak\\\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#\\\/schema\\\/person\\\/6ef8309590ff620a99ce35559f54fd62\",\"name\":\"Web Desk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/41f05ebf0a510062a26cf1d9e662155a6901c6733aa66a6c0f61daea3d680dc7?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/41f05ebf0a510062a26cf1d9e662155a6901c6733aa66a6c0f61daea3d680dc7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/41f05ebf0a510062a26cf1d9e662155a6901c6733aa66a6c0f61daea3d680dc7?s=96&d=mm&r=g\",\"caption\":\"Web Desk\"},\"url\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/author\\\/edt\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Oil heads for another monthly decline as weak US data weighs","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:\/\/leadpakistan.com.pk\/news\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\/","og_locale":"en_US","og_type":"article","og_title":"Oil heads for another monthly decline as weak US data weighs","og_description":"Islamabad Oil prices were heading for another monthly decline on Friday after disappointing US economic data and uncertainty over further interest rate hikes weighed on the demand outlook. Brent crude futures for June were up 42 cents, or 0.5 per cent, at $78.79 a barrel by 09:46 GMT while the more actively traded July contract [&hellip;]","og_url":"https:\/\/leadpakistan.com.pk\/news\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\/","og_site_name":"Daily Lead Pakistan","article_publisher":"https:\/\/www.facebook.com\/DailyLeadPak\/","article_published_time":"2023-04-29T04:15:15+00:00","author":"Web Desk","twitter_card":"summary_large_image","twitter_creator":"@DailyLeadPak","twitter_site":"@DailyLeadPak","twitter_misc":{"Written by":"Web Desk","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/leadpakistan.com.pk\/news\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\/#article","isPartOf":{"@id":"https:\/\/leadpakistan.com.pk\/news\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\/"},"author":{"name":"Web Desk","@id":"https:\/\/leadpakistan.com.pk\/news\/#\/schema\/person\/6ef8309590ff620a99ce35559f54fd62"},"headline":"Oil heads for another monthly decline as weak US data weighs","datePublished":"2023-04-29T04:15:15+00:00","mainEntityOfPage":{"@id":"https:\/\/leadpakistan.com.pk\/news\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\/"},"wordCount":306,"publisher":{"@id":"https:\/\/leadpakistan.com.pk\/news\/#organization"},"articleSection":["Business"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/leadpakistan.com.pk\/news\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\/","url":"https:\/\/leadpakistan.com.pk\/news\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\/","name":"Oil heads for another monthly decline as weak US data weighs","isPartOf":{"@id":"https:\/\/leadpakistan.com.pk\/news\/#website"},"datePublished":"2023-04-29T04:15:15+00:00","breadcrumb":{"@id":"https:\/\/leadpakistan.com.pk\/news\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/leadpakistan.com.pk\/news\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/leadpakistan.com.pk\/news\/oil-heads-for-another-monthly-decline-as-weak-us-data-weighs\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/leadpakistan.com.pk\/news\/"},{"@type":"ListItem","position":2,"name":"Oil heads for another monthly decline as weak US data weighs"}]},{"@type":"WebSite","@id":"https:\/\/leadpakistan.com.pk\/news\/#website","url":"https:\/\/leadpakistan.com.pk\/news\/","name":"Daily Lead Pakistan","description":"Daily Lead Pakistan","publisher":{"@id":"https:\/\/leadpakistan.com.pk\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/leadpakistan.com.pk\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/leadpakistan.com.pk\/news\/#organization","name":"Daily lead Pakistan","url":"https:\/\/leadpakistan.com.pk\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/leadpakistan.com.pk\/news\/#\/schema\/logo\/image\/","url":"https:\/\/leadpakistan.com.pk\/news\/wp-content\/uploads\/2022\/04\/logo3.jpg","contentUrl":"https:\/\/leadpakistan.com.pk\/news\/wp-content\/uploads\/2022\/04\/logo3.jpg","width":1000,"height":154,"caption":"Daily lead Pakistan"},"image":{"@id":"https:\/\/leadpakistan.com.pk\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/DailyLeadPak\/","https:\/\/x.com\/DailyLeadPak","https:\/\/instagram.com\/DailyLeadPak\/"]},{"@type":"Person","@id":"https:\/\/leadpakistan.com.pk\/news\/#\/schema\/person\/6ef8309590ff620a99ce35559f54fd62","name":"Web Desk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/41f05ebf0a510062a26cf1d9e662155a6901c6733aa66a6c0f61daea3d680dc7?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/41f05ebf0a510062a26cf1d9e662155a6901c6733aa66a6c0f61daea3d680dc7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/41f05ebf0a510062a26cf1d9e662155a6901c6733aa66a6c0f61daea3d680dc7?s=96&d=mm&r=g","caption":"Web Desk"},"url":"https:\/\/leadpakistan.com.pk\/news\/author\/edt\/"}]}},"_links":{"self":[{"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/posts\/328218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/comments?post=328218"}],"version-history":[{"count":1,"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/posts\/328218\/revisions"}],"predecessor-version":[{"id":328242,"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/posts\/328218\/revisions\/328242"}],"wp:attachment":[{"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/media?parent=328218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/categories?post=328218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/tags?post=328218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}