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OPEC+ must confront the fallout from the new COVID-19 variant and a US-led attempt to lower prices by releasing oil stocks. S&P Global Platts Analytics sees the omicron variant potentially tempering oil demand growth to as low as 2.9 million b/d in 2022. The producer alliance’s supply strategy for 2022 must navigate the impact of a sharp fall in Dated Brent from its mid-$80s peak.
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Infographic: OPEC+ to grapple with omicron, SPRS in 2022


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