London
OPEC and its allies, led by Russia, stand ready to adjust their plans for a gradual increase in oil output by 2 million barrels per day in the next months depending on market conditions, OPEC Secretary General Mohammad Barkindo said on Sunday. Barkindo was speaking at a meeting of experts of OPEC and allies, a group known as OPEC+, according to remarks published by OPEC. OPEC+ will meet on Monday to decide output policies for February. In December, OPEC+ decided to increase production by 0.5 million bpd from January as part of the 2 million bpd rise but some members have questioned the need for a further increase from February due to spreading coronavirus infections.— Reuters
