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Oil rises on views OPEC+ may pause supply addition amid Omicron fears

Oil prices rose on Thursday, reversing the previous day's losses, on expectations OPEC+ may pause supply additions amid growing concern the spread of the Omicron coronavirus variant could weigh on the global economy and fuel demand. US West Texas Intermediate (WTI) crude futures gained 48 cents, or 0.7 per cent, to $66.05 a barrel by 0140 GMT, after a 0.9 per cent drop on
South Africa United States Toshitaka Tazawa Joe Biden Fujitomi Securities Co Ltd Us Deputy Energy

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Oil producers to increase output in January despite Omicron jitters | Money

LONDON, Dec 2 — Major oil producers decided today to raise output levels in January, despite the Omicron coronavirus variant raising fresh questions over demand. The Opec+ alliance led by Saudi Arabia and Russia has so far resisted US-led pressure to significantly boost output to rein in surging...
United States Saudi Arabia City Of United Kingdom Hossein Amir Abdollahian Mohammed Barkindo

OPEC+ meets under pressure from Biden and Omicron

OPEC+ oil producers meet Thursday under pressure from US President Joe Biden, who has opened up his country's taps hoping to bring down crude prices, and a new Covid-19 variant that has complicated the equation. The meeting "is shaping up to be one of the most significant since the pandemic demand recovery began, and the key signal will be how much more oil will be added to
United States Saudi Arabia Peter Mcnally Bjarne Schieldrop Alexander Novak Donald Trump

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