OPEC and allies to decide oil output amid omicron spike

By DAVID McHUGH
AP Business Writer

FRANKFURT, Germany (AP) — OPEC and allied oil-producing countries are expected to press ahead with restoring cutbacks in output made during the depths of the coronavirus pandemic. It comes as hopes grow that travel and demand for fuel will hold up despite the rapid spread of the omicron variant. The 23-member OPEC+ group, led by member Saudi Arabia and non-member Russia, meets online Tuesday to decide production levels for February. Analysts say the group is likely to add 400,000 barrels per day for the month of February, sticking with the road map they have followed since August.