LONDON : OPEC+ expects the impact on the oil market from the Omicron coronavirus variant to be mild and temporary, keeping the door open for a further increase in output, a technical report seen by Reuters showed on Sunday.
"This is in addition to a steady economic outlook in both the advanced and emerging economies," it added. This will be followed by a meeting of OPEC and allies led by Russia, known as OPEC+, on Tuesday, to debate whether to go ahead with raising output targets by 400,000 barrels per day in February.In the report's base scenario, OECD commercial oil stocks in 2022 will remain below the 2015-2019 average in the first three quarters, and rising above that average by 24 million barrels in the fourth quarter.
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