Russia's Novak comments as well
The OPEC+ great to keep the production plan intact (increase production by 400k BPD per month) at least for the time period.
Russia's Novak commented that:
- the low market is balanced and demand is gradually rising
- however he warned that there is a lot of uncertainty surrounding the omicron variant
Meanwhile US, they have no plans to alter their announced strategic petroleum reserve release despite the fall in prices of late.
Crude oil has been recovering off its low of the day at $62.46. It currently trades around $65 which is still below the high at $67.31.