No need for hasty oil market decisions over Omicron, Russia’s Novak says

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The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina/File Photo

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MOSCOW, Nov 29 (Reuters) – Russia sees no need for urgent action on the oil market over the new Omicron coronavirus variant, Deputy Prime Minister Alexander Novak was quoted as saying on Monday, downplaying the possibility of changes to an OPEC+ oil supply deal this week.

The Organization of the Petroleum Exporting Countries and others led by Russia, a group known as OPEC+, hold online meetings this week to decide on oil production policy.

Sources said on Friday OPEC+ was monitoring developments related to Omicron, with some concerned it might weaken demand. read more

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“We have to meticulously monitor and watch. There is no need for…

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