OPEC expects the impact of the Omicron coronavirus option on the oil market to be minor and temporary. The situation “opens the door” to further increase production, according to the organization’s technical report.
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The Organization of the Petroleum Exporting Countries will meet on Monday to discuss the appointment of a new secretary general to replace Mohammad Barkindo of Nigeria.
“The impact of the new option is expected to be weak and short-term as the world becomes better equipped to deal with COVID-19 and related challenges,” the report said.
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