{"id":60763,"date":"2014-12-10T14:51:05","date_gmt":"2014-12-10T20:51:05","guid":{"rendered":"http:\/\/csinewsnow.com\/?p=60763"},"modified":"2014-12-10T14:53:27","modified_gmt":"2014-12-10T20:53:27","slug":"price-of-oil-lower","status":"publish","type":"post","link":"http:\/\/csinewsnow.com\/?p=60763","title":{"rendered":"Price of oil lower &#8211; domestic drilling cuts"},"content":{"rendered":"<p><a href=\"http:\/\/csinewsnow.com\/wp-content\/uploads\/2013\/11\/oilpipeline.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-31287\" alt=\"oilpipeline\" src=\"http:\/\/csinewsnow.com\/wp-content\/uploads\/2013\/11\/oilpipeline-300x202.jpg\" width=\"300\" height=\"202\" srcset=\"http:\/\/csinewsnow.com\/wp-content\/uploads\/2013\/11\/oilpipeline-300x202.jpg 300w, http:\/\/csinewsnow.com\/wp-content\/uploads\/2013\/11\/oilpipeline-259x175.jpg 259w, http:\/\/csinewsnow.com\/wp-content\/uploads\/2013\/11\/oilpipeline.jpg 445w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>(AP) \u00a0Energy industry shares are falling as oversupply and weak demand drag down the price of oil.<br \/>\n\u00a0<br \/>\n\u00a0\u00a0\u00a0\u00a0 Oil prices have been falling for some time, but new industry reports suggest the situation could worsen. OPEC slashed its estimate of how much crude oil it will need to produce next year. And the U.S. Energy Department recently lowered its forecast for gasoline prices yet again.<br \/>\n\u00a0<br \/>\n\u00a0\u00a0\u00a0\u00a0 That helped send the price for U.S. benchmark oil down below $61 a barrel on Wednesday &#8211; a new five-year low.<br \/>\n\u00a0<br \/>\n\u00a0\u00a0\u00a0\u00a0<strong> Industry giants BP and ConocoPhillips both lowered their spending forecasts for drilling this week.<\/strong><br \/>\n\u00a0<br \/>\n\u00a0\u00a0\u00a0\u00a0 The mounting pressure sent shares of most major oil companies down in trading Wednesday, including declines of nearly 3 percent for Exxon Mobil Corp., ConocoPhillips and Chevron Corp.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(AP) \u00a0Energy industry shares are falling as oversupply and weak demand drag down the price of oil. \u00a0 \u00a0\u00a0\u00a0\u00a0 Oil prices have been falling for some time, but new industry reports suggest the situation could worsen. OPEC slashed its estimate of how much crude oil it will need to produce [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":56851,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-60763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-state"],"_links":{"self":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/60763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60763"}],"version-history":[{"count":4,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/60763\/revisions"}],"predecessor-version":[{"id":60765,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/60763\/revisions\/60765"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/media\/56851"}],"wp:attachment":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60763"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}