- Oil jumped after the OPEC+ alliance left the door open to reversing its decision to boost output.
- OPEC+ agreed to add 400,000 barrels a day of crude to global markets in January, but it essentially put a floor under prices by giving itself the option to change the plan at short notice.
- It’s an unusual step that underscores the difficulty in assessing the supply-demand balance over the short term due to the omicron variant and the U.S.-led release of national crude reserves.
Oil prices rally on OPEC’s flexible stance on supply
