OPEC+ agreed to ease production cuts in January by 400,000 bpd OPEC+: There will also be an extension of the compensation cuts Saudi Arabia and Russia had already signaled that Omicron shouldn’t be a reason to jump to hasty decisions The OPEC+ group is sticking to its plan to ease the production cuts in January by 400,000 barrels per day, despite mounting evidence of a larger-than-expected oil surplus early next year. At the meeting of the alliance on Thursday, the ministers have decided to keep the policy to add 400,000 bpd to the market each month, as they have been doing since August. All ministers of the OPEC+ group appear to be in agreement with increasing output by another 400,000 bpd next month—that is, rolling over the current supply addition policy, Amena Bakr, Deputy Bureau Chief & Chief Opec Correspondent at Energy Intelligence, reported , citing sources. There will […]