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By Udeme Akpan

THE Organisation of Petroleum Exporting Countries, OPEC, has unveiled that the global oil market would be beclouded with some uncertainties in 2022, due mainly to the Omicron variant, which has already culminated in lockdown in some nations.

In his opening remarks at the 58th Meeting of the Joint Technical Committee (Videoconference), January 3, 2022, Secretary-General, OPEC, HE Mohammad Sanusi Barkindo, said such uncertainties would likely start to manifest in the coming weeks.

Specifically, he said: “Despite the steady progress that has been made in terms of the economic recovery, we do expect significant levels of uncertainty in the weeks to come, which could slow the growth momentum.

“In addition to closely monitoring the evolving impacts of the Omicron variant, other factors to consider will be the varying speed of vaccine rollouts worldwide; the uneven pace of economic growth across global regions; and continued supply chain disruptions. Additionally, rising inflationary pressures and potential central bank responses remain key factors that require close monitoring.”

Vanguard News Nigeria