- Brent futures trade over $80/Bbl after the market digests OPEC+’s decision to increase production for February
- Oil prices finished 2021 strong as a handful of global supply outages helped boost sentiment (BBG)
- Facts Global Energy, a consulting firm, said the disruption totaled close to 1 MMBbl/d
- Nuclear talks between the U.S. and Iran has made some “modest progress,” U.S. State Department spokesman Ned Price said in a press briefing Tuesday (Bloomberg)
- Discussions have aimed at reviving the 2015 agreement between Iran and world powers restarted Monday in Vienna after a holiday pause
- “There has been some progress relative to the beginning of December in identifying the hard issues left to be negotiated,” Price said
- The outcome of the nuclear talks will likely have a large impact on the global oil market in 2022