The oil producers’ group OPEC+ will likely take a cautious stance when deciding this coming week whether to go ahead with planned output increases after the emergence of a new coronavirus variant sent crude prices tumbling, according to Vitol Group.
There are signs that demand may be weakening in some markets going in to the winter months in Asia and Europe, said Mike Muller, the head of the Asia unit at Vitol, the world’s biggest independent oil trader. The new coronavirus variant will probably lead to more flight cancellations this week, he said.
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November 28, 2021 at 03:15PM
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OPEC+ Likely to Be Cautious on Oil Demand at Meeting, Vitol Says - Bloomberg
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