Major oil-producing countries are expected to maintain on Tuesday their course of modestly boosting output as the rapidly spreading Omicron variant has so far not heavily hit demand.
The so-called OPEC+ grouping, including top producers Saudi Arabia and Russia, has withstood pressure to more widely open the taps though high energy prices are fuelling a surge in inflation across the world.
The 13 members of the Organization of the Petroleum Exporting Countries (OPEC) and their 10 allies drastically slashed output in 2020 as the pandemic wreaked havoc with demand.—APP
