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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (118304)	1/4/2022 1:57:22 PM
From: Goose94	Read Replies (1) of 203566

Crude Oil: OPEC+ Agrees to Another Output Increase in February The group of oil producers comprising OPEC and non-member participants including Russia agreed to extend the 400,000 b/d monthly supply increments into February 2022, arguing that overblown Omicron fears will not have a significant impact on global demand going forward. New OPEC Secretary-General Vows to Keep OPEC+ Pact Alive Kuwaiti oil sector veteran Haitham al-Ghais, OPEC’s newly-elected secretary-general that will replace Nigeria’s Mohammad Barkindo starting August 01, 2022, vowed to keep the extended OPEC+ alive beyond its assumed phase-out in late 2022. Libya Falls Further into Abyss of Chaos Libya’s national oil company announced that the country’s oil production would be reduced by 200,000 b/d as a leaking trunk pipeline will be undergoing maintenance, essentially halving the North African country’s production to 700,000 b/d amid persisting blockades in its western regions.

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