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Infographic: OPEC+ to grapple with omicron, SPRs in 2022

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Infographic: OPEC+ to grapple with omicron, SPRs in 2022

  • Author
  • Paul Hickin    Eklavya Gupte
  • Commodity
  • Oil
  • Topic
  • Coronavirus and Commodities OPEC+ Oil Output Cuts Infographics

OPEC+ must confront the fallout from the new COVID-19 variant and a US-led attempt to lower prices by releasing oil stocks. S&P Global Platts Analytics sees the omicron variant potentially tempering oil demand growth to as low as 2.9 million b/d in 2022. The producer alliance's supply strategy for 2022 must navigate the impact of a sharp fall in Dated Brent from its mid-$80s peak.

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Click here to see the full-sized infographic

Infographic: OPEC+ to grapple with omicron, SPRS in 2022