OPEC and its allies are expected to revive more oil supplies when they meet next week, underscoring the group’s optimism in the outlook for global demand. The 23-nation alliance led by Saudi Arabia and Russia is likely to proceed with another modest monthly hike of 400,000 barrels a day as it restores production halted during the pandemic, according to a Bloomberg survey. Several national delegates also said they expect the boost — due to take effect in February — will go ahead. The Organization of Petroleum Exporting Countries and its partners see global demand continuing to recover this year, taking only a “ mild ” hit from the omicron variant. Their confidence is being validated as busy traffic across key Asian consuming countries and dwindling crude inventories in the U.S. buoy international prices near $80 a barrel. “The market can take the extra oil, as long as omicron or […]