OPEC+ sticks to its plan to boost oil production by 400,000 bpd

Ministers of OPEC+ countries, attending their first session of 2022, decided not to stray from their plan for a smooth increase in oil production despite the Omicron variant of the Coronavirus and forecasts of a surplus on oil markets, the group said. Under the plan, participants in the deal will increase their oil production in February by 400,000 bpd to 40.89 million bpd.

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