Oil prices clawed back some losses on Wednesday after steep falls in the previous session, as large producers prepared to discuss how to respond to the threat of a hit to fuel demand from the Omicron variant.
While some analysts expect Opec will pause plans to add 400,000 barrels a day of supply in January in light of the potential hit to demand from travel curbs to rein in the spread of the Omicron variant, several Opec ministers have said there was no need to change course. Even if Opec agrees to go ahead with its planned supply increase in January, producers may struggle to add that much.
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