OPEC and its allies are meeting on Tuesday to decide on their level of production in February.
(Boursier.com) – Oil prices started 2022 up on Monday, in the hope of solid demand in 2022, and on the eve of the monthly OPEC + meeting, which should decide on Tuesday to continue its policy of gradually increasing its quotas.
The barrel of American light crude WTI Monday night gained 1.2% to $ 76.08 (February Nymex futures contract), while the Brent de Mer du Nord advanced 1.54% to $ 78.98 (March contract).
According to a technical report that the agency ‘Reuters’ was able to consult on Sunday, OPEC + relativizes the impact of the Omicron variant on aggregate demand by describing it as “moderate and short-lived” while maintaining counting on an unchanged economic outlook .
Observers expect OPEC and its allies, including Russia, to stay on course in May 2021, namely a gradual increase in production, once again limited to 400,000 barrels per day in February.
In 2021, the price of Brent climbed by more than 50% and that of WTI by more than 55%, the prices being boosted by the recovery in demand, linked to the end of the health restrictions put in place in 2020 to curb the Covid-19 pandemic.
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