Oil fluctuated in Asian trading before an OPEC+ meeting that’s expected to see the alliance agree to another output boost next month. Futures in New York swung between gains and losses near $76 a barrel after climbing 1.2% Monday. OPEC+ is set to ratify a 400,000-barrel a day production increase for February when it gathers Tuesday, according to delegates . The alliance will add more supply despite some concerns about demand following virus flare-ups across the world including in China , the biggest oil importer. The supply-demand backdrop is looking better for OPEC+, with the cartel cutting estimates for a surplus expected in the first quarter due to weaker output growth from its rivals. Oil’s market structure has also firmed in a bullish backwardation pattern, even as the omicron variant of the virus turbocharges infection rates across the world. “There seems little holding back OPEC+ from performing another scheduled […]