YGRN - OPEC+ sizes up crude demand in light of vaccine developments

While a vaccine breakthrough announced this week by Pfizer could revive fuel demand, the logistical challenges of deploying a vaccine to billions of people mean it won't materially change oil-market conditions over the next six months.That thinking is prompting Saudi Arabia and Russia, leaders of the OPEC+ coalition, to have second thoughts about opening the taps in January as originally planned, and they may delay a planned output increase by three to six months.The presidents of both Russia and OPEC have even mentioned the option of cutting production further, but the idea hasn't garnered widespread support so far among other members.We're three weeks away before the group meets to make a final decision, so expect some more news out of the oil space. The alliance is currently keeping about 7.7M barrels a day offline, or 8% of global output.A truce in Libya's civil war has also revived Libya's output to

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OPEC+ sizes up crude demand in light of vaccine developments