Most OPEC+ countries prefer to hold output steady in February- sources

Most OPEC+ countries prefer to hold output steady in February- sources

LONDON/DUBAI- Most OPEC+ oil-producing countries oppose plans to increase output from February as winter lockdowns to contain the coronavirus choke demand, three OPEC+ sources told Reuters on Monday.OPEC+, which groups OPEC and other producers including Russia, meet on Monday, a day after OPEC Secretary General Mohammad Barkindo warned OPEC+ experts of downside risks facing the oil market. The online meeting of OPEC+ ministers is scheduled to start at 1330 GMT."Amid the hopeful signs, the outlook for the first half of 2021 is very mixed and there are still many downside risks to juggle," Barkindo said."Curbs on social and economic activity remain in place in a number of countries, and there is concern about the emergence of a pernicious new strain of the virus," Barkindo said.That strain, reported in Britain last month, is spreading globally and on Monday British Prime Minister Boris Johnson warned that his government would be announcing tougher lockdown rules. INCREASEWith benchmark Brent oil futures LCOc1 holding above $50 per barrel, OPEC+ took the opportunity this month to raise output by 500,000 barrels per day (bpd) as it looks to eventually undue cuts that currently stand at 7.2 million bpd.OPEC+ producers have been curbing output to support prices and reduce