OPEC+ Ministerial Committee says oil market now ‘balanced’

04/01/2022 Argaam

Logo of OPEC

OPEC+ Joint Ministerial Monitoring Committee (JMMC) said the oil market is currently “balanced”, Reuters reported, citing a document.

 

The oil market will see an oversupply from the first quarter of 2022, the committee added.

 

OPEC+ member states will meet today, Jan. 4, to decide on February oil production policy.

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