OPEC+ Sees Worsening Oil Surplus in Q1 2022

OPEC+ sees the oil surplus worsening to 2 million barrels per day in January, 3.4 million bpd in February and 3.8 million bpd in March next year, an internal report seen by Reuters showed. "Generally, the impact of Omicron seems to be jet-fuel related for now, particularly in Africa and Europe," the report said.