“OPEC +” talks about the impact of Omicron on oil markets

A report by the “OPEC +” group spoke of the impact of the new Corona mutant, “Omicron” on oil markets, amid a state of anxiety due to fears of a decline in oil demand due to the mutant.

read more
After heavy losses, global stock exchanges ascend to the green zone

After heavy losses, global stock exchanges ascend to the green zone

A report by the group, which includes producers from the Organization of “OPEC” and outside, including Russia, said that the impact of “Omicron” on oil demand has not yet appeared, as the susceptibility to infection and the severity of symptoms are not yet clear.

The report indicated that the “OPEC +” bloc expects to increase the oil surplus to two million barrels per day in next January, 3.4 million barrels per day in next February, and 3.8 million barrels per day in March 2022.

“Overall, it appears that Omicron’s current impact will be on jet fuel, particularly in Africa and Europe,” the report said.

And on the impact of the decision of major oil consumers to withdraw quantities of strategic reserves and put them on the market, which was initiated by the United States, the group said that it expects the impact of withdrawals from strategic reserves to be minimal because some of them are voluntary and some are exchanges.

In terms of trading, oil prices rose today by about 3%, after heavy losses suffered yesterday and last Friday due to economic concerns due to the “Omicron” variable.

Today, the “OPEC” is holding a meeting today, and the “OPEC +” group will meet tomorrow, Thursday, to discuss the situation in the oil market.

Source: RT + Reuters

Follow RT onRT

These were the details of the news “OPEC +” talks about the impact of Omicron on oil markets for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Australian state orders 30,000 people to evacuate due to ‘catastrophic’ fire risk
NEXT FBI director warns that Chinese hackers are preparing to ‘wreak havoc’ on US critical infrastructure

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]