OPEC+ to Reduce Output Cuts in January

The OPEC+ alliance have on Thursday reportedly agreed to a small rise in crude oil output starting next January by 500,000 barrels per day, Reuters reported.

However, major producers are yet to agree on the broader output policy for the rest of 2021.

Producers hope that economic recovery from the impact of the Coronavirus crisis could help the recovery of global demand in the near-term.