OPEC, allies to keep oil production targets in January

Politics Economy Society

The Organization of the Petroleum Exporting Countries and its allies said Thursday they will not change the group's production targets for January, despite concerns that demand may weaken due to potential impacts of the Omicron variant of the coronavirus on the global economy. The agreement to stick to the planned increase by 400,000 barrels a day next month was reached in a ministerial meeting by the group of oil-exporting countries known as OPEC+. The development is a relief for major oil-consuming countries such as Japan and the United States facing costlier energy prices. But the group did...

Kyodo News

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