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Novak from Russia also comments

OPEC + is great at keeping the production plan intact (increasing production by 400k BPD per month) at least for the period of time.

Novak from Russia commented that:

  • the low market is balanced and the demand gradually increases
  • However, he cautioned that there is a lot of uncertainty surrounding the omicron variant.

Meanwhile, the United States has no plans to alter the release of the announced strategic oil reserve despite falling prices in recent times.

Crude oil has been recovering from its low for the day at $ 62.46. It is currently trading around $ 65, which is still below the high of $ 67.31.

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