Kuwait’s oil minister Mohammad Al-Fares said global demand for oil is continuing to recover amid positive conditions and upbeat global financial indicators, state news agency KUNA reported.

Dangers including rising inflation and new COVID-19 variants necessitate caution going forward, although Omicron effects “could be minor as the vaccine rollout expands”, KUNA cited Al-Fares as saying.

OPEC+, a grouping of the Organization of the Petroleum Exporting Countries (OPEC) and allies, decided on Wednesday to stick to its planned output increase of 400,000 barrels per day from March after a short meeting.
Source: Reuters (Reporting by Yasmin Hussein; Writing by Nadine Awadalla; Editing by Jan Harvey)