Oil posts biggest annual gain since at least 2016

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OPEC+ Expected to Stick with Planned Feb Output Increase - Reuters

January 3, 2022 6:07 AM EST

By Ahmad Ghaddar, Alex Lawler and Olesya Astakhova

LONDON/MOSCOW, Jan 3 (Reuters) - OPEC+ is expected to stick to its plans for a February output increase when it meets on Tuesday, predicting a mild and short-lived impact on demand from the Omicron coronavirus variant, three sources from the group of oil producers told Reuters on Monday.

OPEC+, a grouping of the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, has been gradually unwinding record oil production... More