OPEC+ expects a surplus of two million barrels per day (bpd) in January 2022 and 3.4 million in February, Reuters reported, citing a document.
The group expects to reach a surplus of 3.8 million bpd by March.
The document added that Omicron’s impact seems to be jet-fuel related, especially in Africa and Europe, and may even affect transportation fuel demand within Europe.
However, OPEC+ confirmed that the impact of Omicron on oil demand has not yet started, as the susceptibility to infection and the severity of symptoms are not yet clear.
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