Most of the members of OPEC+ are reportedly favoring delaying another 500,000 barrels per day (bpd) increase in collective production from February due to the surging COVID-19 cases and the new lockdowns imposed to fight them, three sources at OPEC+ told Reuters on Monday. As of January 2021, the group is already easing the collective cut by 500,000 bpd, and producers’ cuts are set to be 7.
2 million bpd this month, compared to 7.7 million bpd in December. The ministers of the OPEC+ group are meeting at the time of writing early on…Most OPEC+ Producers Don’t Favor Another Output Increase
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