Oil prices dropped more than 4% before rebounding on Thursday after OPEC+ announced it would continue its supply hike of 400,000 barrels per day per month, despite the threat of Omicron variant cases.
Oil analysts had been split on whether the cartel would hold steady with its output hike or pause it amid uncertainty about demand given the threat of the new variant.
West Texas Intermediate (WTI) crude (CL=F) touched $63 a barrel shortly after 9 a.m. ET. By 2 p.m. in the afternoon, future…
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