Crude oil continued to recover as the fall-out from OPEC+ sticking to the planned increases in production is digested. The extra 400,000 barrels a day due to be added in January is seen as allaying Washington’s concerns. The group gave themselves flexibility to adjust output at short notice as uncertainty around the impact of Omicron on global growth persists.
Asian equities were mixed today even though risk sentiment seemed to steady after Friday’s rout. Hong Kong’s Hang Seng Index was the weakest of the lot, down over 1.5% at one stage. The tech, entertainment and property sectors continued to weigh on that market.
