OPEC and its allies raised their crude oil production by 280,000 b/d in December to a seven-month high, as Libya pumped its most since mid-2013 and several other countries posted modest increases, the latest S&P Global Platts survey found.  The rising production came ahead of the OPEC+ coalition’s planned 500,000 b/d quota easing for January, in the face of a demand outlook hobbled by soaring COVID-19 cases in many parts of the world. OPEC’s 13 members pumped 25.43 million b/d in December, up 220,000 b/d from November, while their nine non-OPEC partners, led by Russia, produced 12.74 million b/d, an increase of 60,000 b/d. Combined, the entire coalition’s conformity level was 98.5%, down from 100.1% in November, according to Platts calculations. Many OPEC+ members, notably Russia and the UAE, have been eager to reclaim market […]