OPEC and its Russia-led allies will plow ahead with a production increase for January, despite their own predictions of a looming oil surplus, choosing for now to avoid a potentially politically thorny decision on reining in output. Absent clearer data on the impact of the omicron COVID-19 variant, the OPEC+ alliance agreed Dec. 2 to …
The post OPEC+ sticks with 400,000 b/d output hike despite SPR releases, omicron first appeared on Hellenic Shipping News Worldwide.
Author: Capt. John