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Opec expects oil demand to average 99.13 million barrels per day (bpd) in the first quarter of 2022, up 1.11 million bpd from its forecast last month, according to its monthly bulletin.
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The impact of Omicron is projected to “be mild and short-lived, as the world becomes better equipped to manage Covid-19 and its related challenges”, it said at the time. Opec and its allies are meeting on January 4 to decide whether to bring more supply to the market. However, the oil producers' group has left its full-year growth estimate unchanged. While some traders and analysts fear the widespread travel restrictions could have an impact on economic momentum and weigh on oil demand, Opec earlier this month raised its global oil demand forecast for the first quarter of 2022. India is expected to see a short but severe surge in the number of Covid-19 infections. There are dire warnings from the World Health Organisation, which told Europe to brace for a punishing wave of Omicron cases over the winter as “we can see another storm coming”. Travel restriction on some African countries did little to check its spread and some European nations, including the UK, are now considering bringing back stricter restrictions to control the pandemic and protect healthcare system from being overwhelmed. Omicron is now the dominant coronavirus variant in major economies including the US, the UK and some parts of Europe. However, despite staying the course and increasing output, Opec+ said it could review its policy at a short notice if the rising number of coronavirus infections, spurred by the Omicron variant, chokes off demand. Market analysts had widely expected Opec+ to pause production increases in January, given the Omicron-driven uncertainties. West Texas Intermediate, which tracks US crude grades, was 0.2 per cent higher at $76.13 per barrel.Ĭrude prices have more or less hovered above $70 per barrel and made an incremental climb after the Opec and its allies decided to bring 400,000 barrels per day of crude to the market in January despite the release of Strategic Petroleum Reserves by the US and other countries. Brent, the international benchmark under which two-thirds of the world's crude is traded, was up 0.3 per cent to $79.18 per barrel at 11.46am on Wednesday. Oil prices, which surged more than 60 per cent last month to trade above $80 per barrel, supported by gradual economic recovery in key markets, fell below $70 per barrel as the rapid spread of the more infectious Omicorn variant of the coronavirus raised question about the pace of economic momentum in the future.īut crude prices have clawed back some of the lost ground in recent weeks. Opec+ is entering a new phase of supply recalibrations and the US and key oil-consuming countries are looking to play a more active role in the markets. 18.Oil prices are headed for uncharted territory in 2022, driven by Omicron-related uncertainties and bouts of price volatility.
#Uncharted territory movie#
RELATED: First Trailer For Jodie Whittaker’s Final ‘Doctor Who’ Season Releasedįilmmaker Ruben Fleischer (“Zombieland”, “Venom”) sits in the director’s chair with a script from “Iron Man” duo Art Marcum and Matt Holloway, courtesy of Rafe Judkins’ screen story.ĭive into the “Uncharted” world when the movie premieres in movie theatres on Feb. “In an action-adventure epic that spans the globe, the two go in dangerous pursuit of ‘the greatest treasure never found’ while also tracking clues that may lead to Nathan’s long-lost brother.”
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“ Based on one of the bestselling, most critically acclaimed video game series of all time, ‘Uncharted’ introduces audiences to the young street-smart Nathan Drake (Holland) and showcases his first treasure-hunting adventure with wisecracking partner Victor ‘Sully’ Sullivan (Wahlberg),” a synopsis reads. RELATED: Elle Fanning Is Remaking Russia In ‘The Great’ Season 2 Trailer Holland and Wahlberg star in the upcoming action-adventure film based on Naughty Dog and Sony Interactive Entertainment’s commercially and critically successful franchise of video games. The search for treasure (and a truly great movie adaptation of a video game) continues in the new trailer for “Uncharted” starring Tom Holland and Mark Wahlberg.