Saudi Energy Minister Not Concerned About New Covid Variant

Abdulaziz, who was speaking to reporters in Dhahran in the kingdom’s east, declined to comment on plans by OPEC+ ahead of a meeting this week.

Oil has recouped some its losses after a rout Friday that saw U.S. crude plunge more than 10%, dropping below $70 a barrel for the first time since September.

OPEC+, led by Saudi Arabia and Russia, is gradually rolling back its production cuts and agreed to increase output by 400,000 barrels a day each month. OPEC+ meets Thursday to decide on January output.