The Organization of the Petroleum Exporting Countries and allies, a group known as OPEC+, are set to boost output by 500,000 barrels per day in January. There is no sign yet of any wavering induced by the price drop.
LONDON: Oil dropped towards $50 a barrel on Tuesday, adding to losses from the previous session, as a new coronavirus strain in the United Kingdom revived concerns over demand recovery.
Detection of the new strain prompted several countries to close their borders to Britain, though a British minister said the UK and France are working to reopen one of Europe's most important trade routes.
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