Oil is in turmoil as the COVID-19 Omicron variant spreads. With the outlook for petrol demand uncertain, OPEC+ is set to meet today to discuss output.
Oil (CL) sank under $63 a barrel today, marking it the lowest drop since May. This fall came on the heels of the Fed signaling it would narrow asset purchases.
OPEC+ cancelled its Oil output talks after the UAE requested different terms. The decision helped push Oil prices near three-year highs.
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