Skip to main content

OPEC+ Is Monitoring The New Covid Variant

Saudi Arabia refinery Reuters: OPEC+ monitoring new virus variant, some concerned over outlook - sources  

LONDON/MOSCOW (Reuters) - OPEC+ is monitoring developments around the new coronavirus variant, sources said on Friday, with some expressing concern that it may worsen the oil market outlook less than a week before a meeting to set policy. 

The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, is already facing a release of oil stocks led by the United States to try to cool prices. Still, a source said Russia, a key OPEC+ member, was not concerned about the virus variant yet.OPEC+ has resisted U.S. calls to do more to lower oil prices, continuing to unwind last year's record output curbs by adding 400,000 barrels of supply per day every month since August. Next week's meeting will discuss January's output. 

Global authorities reacted with alarm to news of the B.1.1.529 variant, with the EU, Britain and India among those announcing stricter border controls. Oil prices fell more than 9% on Friday to below $75 a barrel. [O/R] 

Read more ....  

WNU Editor: If this Covid variant is as bad as some fear, it is a given that OPEC+ will drastically cut oil production. They do not want a repeat from last year at the height of the pandemic when oil prices hit a few dollars a barrel.



from War News Updates https://ift.tt/3E3GASS
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

U.S. Army Conducts Gunnery Exercise With Latest Air Defense System Sgt Stout.

U.S. Army officials confirmed that a live gunnery exercise at Fort Hood, Texas, is underway, featuring the latest-generation Sgt Stout short-range air defense system. The drills mark a significant step toward full operational integration as units across the force adapt to evolving threats from drones, rotary-wing aircraft, and low-flying munitions. It matters because Sgt. Stout enhances the Army’s ability to defend forward-deployed troops and critical infrastructure from modern aerial threats. Read full Defense News at this link ... A U.S. Army SGT Stout SHORAD air defense vehicle maneuvers into firing position during live-fire training with the 6th Battalion, 56th Air Defense Artillery Regiment at Fort Hood, Texas, on October 3, 2025. (Picture source: U.S. Department of War) Read More from World Defence News https://ift.tt/NYmsS1n via IFTTT
Post a Comment
Read more

US Budget Proposal Seeks F-22 Raptor Stealth Jet Upgrades to Protect Air Dominance

 Lockheed Martin’s F-22 Raptor fighter jet is confirmed to receive major upgrades under the proposed FY2026 budget plan to ensure its sustained edge in air dominance operations, according to the U.S. Air Force Financial Management and Comptroller. Despite the emergence of sixth-generation designs, the Air Force’s dedicated $90 million budget aims to extend the Raptor’s relevance. This move underscores a broader strategy to protect critical stealth assets against evolving threats from China and Russia. It highlights a firm commitment to bridging the gap until Next Generation Air Dominance systems mature.  Read full defense News at this link.  The planned FY2026 viability upgrade marks a clear signal that the F-22 remains a backbone of U.S. air dominance doctrine (Picture source: U.S. Air Force) from World Defence News https://ift.tt/xebSkjs via IFTTT
Post a Comment
Read more

MBDA–Rheinmetall new shipboard laser weapon could enter German Navy service by 2029.

Düsseldorf/Schrobenhausen, Germany, 28 October 2025 - German companies Rheinmetall and MBDA Germany announced that their jointly developed high-energy laser demonstrator has been transferred to the Laser Competence Centre at the Bundeswehr’s Technical Centre for Weapons and Ammunition (WTD 91) in Meppen, following a year-long series of sea trials aboard the German Navy frigate FGS Sachsen. The transition marks a key milestone in Germany’s efforts to field a shipboard directed-energy weapon capable of defending naval assets from drones, small craft, and other emerging aerial threats. According to Rheinmetall, an operational system could be ready for the fleet as early as 2029, providing a cost-effective complement to traditional missile interceptors. Read full Naval News at this link ... German Navy frigate FGS Sachsen conducts sea trials with Rheinmetall and MBDA’s high-energy laser weapon system, mounted on the forward deck in a containerized module during live-fire testing in ...
Post a Comment
Read more