OPEC and Russia agree to increase oil output amid lagging production.
1/6/22
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from The New York Times,
1/4/22:
Officials from OPEC, Russia and other oil producers agreed on Tuesday to continue their program of gradual monthly output increases in February, bolstering output by 400,000 barrels a day, but there are growing doubts about whether they can deliver on the additional barrels.
A persistent failure to step up production according to a schedule approved in July is helping to keep oil prices relatively high, even though a surge in coronavirus cases from the Omicron variant threatens to dampen economic activity and oil demand.
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