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OPEC+ monitoring new virus variant, some concerned over outlook - sources

From financialpost.com

OPEC+ is monitoring developments around the new coronavirus variant, sources said on Friday, with some expressing concern that it may worsen the oil market outlook less than a week before a meeting to set policy. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, is already facing a release of oil stocks led by the United States to try to cool prices. Still, a source said Russia, a key OPEC+ member, was not concerned about the virus variant yet. OPEC+ has resisted U.S. calls to do more to lower oil prices, continuing to unwind last year’s record output curbs by adding 400,000 barrels of ... (full story)

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  • Category: Fundamental Analysis