OPEC+ seen sticking to planned February output increase – Reuters

OPEC+ seen sticking to planned February output increase – Reuters

LONDON/MOSCOW, Jan 4 (Reuters) - OPEC+ will likely stick to its planned increase in oil output for February when it meets on Tuesday, six sources from the group told Reuters, as it expects the Omicron coronavirus variant to have a short-lived impact on demand.

OPEC+, which groups producers from the Organization of the Petroleum Exporting Countries (OPEC) with others including Russia, has raised its output target each month since August by 400,000 barrels per day (bpd).

"OPEC+ will have an easy meeting without any problems today and will reaffirm the previous agreement," an OPEC+ source said. Five other OPEC+ sources echoed that view.