LONDON (HRNW) – OPEC+ oil producers meet Thursday under pressure from US President Joe Biden, who has opened up his country’s taps hoping to bring down crude prices, and a new Covid-19 variant that has complicated the equation.
The meeting “is shaping up to be one of the most significant since the pandemic demand recovery began, and the key signal will be how much more oil will be added to supply to start the new year,” said Peter McNally, an analyst at the Third Bridge think tank.
After coming under heavy pressure to step up production, leading members the United States, China, India and Japan last week announced that they would dip into their strategic reserves to help bring down crude prices, after a surge that has undermined economic recovery.
Be the first to comment on "OPEC+ meets under pressure from Biden and Omicron"