Most of the members of OPEC+ are reportedly favoring delaying another 500,000 barrels per day (bpd) increase in collective production from February due to the surging COVID-19 cases and the new lockdowns imposed to fight them, three sources at OPEC+ told Reuters on Monday. As of January 2021, the group is already easing the collective cut by 500,000 bpd, and producers’ cuts are set to be 7.2 million bpd this month, compared to 7.7 million bpd in December. The ministers of the OPEC+ group are meeting at the time of writing early on…
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