OPEC+ postpones JMMC meeting to discuss Omicron Covid strain

OPEC+ has postponed its Joint Ministerial Monitoring Committee (JMMC) meeting in order to assess the new Omicron strain of Covid-19, Russia's Deputy Prime Minister Alexander Novak said on Monday.

Originally scheduled for November 30, the JMMC online meeting will now be held on Dec. 2, the same day as the main OPEC+ ministerial meeting.

Novak said OPEC+ countries would discuss the market situation and whether any action is necessary.

Earlier on Monday he said there was no need for urgent measures.