Energy

Oil supply in focus amid omicron Covid variant fears

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Oil rigs work on platforms in Gaoyu Lake in Gaoyou in east China’s Jiangsu province Friday, Sept. 17, 2021.

Barcroft Media | Getty Images

OPEC and non-OPEC oil producers, an influential group known as OPEC+, will meet on Thursday to decide on the next phase of output policy.

The energy alliance will convene via videoconference to determine whether to stick with its plan to release more oil into the market or to restrain supply amid fears over the omicron Covid-19 variant.

Other issues on the table include a U.S.-led release of strategic reserves from crude-importing nations and Iran’s possible re-entry into oil markets.

Energy analysts broadly expect OPEC+ to push ahead with its current plan…



Source cnbc.com

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