OPEC+ Agrees To Stick With Plan To Gradually Boost Output
CNBC: OPEC+ agrees oil output hike from February as omicron Covid cases soar
* OPEC and its non-OPEC allies, known collectively as OPEC+, decided to raise its output target by 400,000 barrels per day from next month.
* The move had been broadly expected given U.S. pressure to boost supply and no major new Covid restrictions.
* World oil markets are widely expected to remain prone to geopolitics in 2022, with “saber-rattling” over the persistent Russia-Ukraine standoff and ongoing Iranian nuclear negotiations likely to be closely monitored by OPEC+.
An influential group of some of the world’s largest oil producers agreed on Tuesday to stick to its planned increase in oil production from February as energy investors weigh the potential impact of soaring omicron Covid cases.
OPEC and its non-OPEC allies, known collectively as OPEC+, decided to raise its output target by 400,000 barrels per day from next month.
The move had been broadly expected given U.S. pressure to boost supply and no major new Covid restrictions.
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OPEC+ Agrees To Stick With Plan To Gradually Boost Output
OPEC and its allies agree to keep pumping more oil -- CNN/Reuters
OPEC+ sticks with plan to gradually boost output, despite Omicron -- Al Jazeera
OPEC+ sticks to output target despite US pressure -- Arab News
OPEC+ Sticks To Plan To Add 400,000 Bpd Oil Production In February -- OilPrice.com
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