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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Fuel for Thought: OPEC+ to set tone for 2022 with response to US oil release, COVID-19 variant
Oil Markets Podcast: Omicron's Black Friday injects new fragility
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