Oil rises 1% ahead of OPEC meeting under Omicron variant cloud
Oil prices clawed back some losses on Wednesday after steep falls in the previous session, as major producers prepared to discuss how to respond to the threat of a hit to fuel demand from the Omicron variant.
U.S. West Texas Intermediate (WTI) crude futures rose 78 cents, or 1.2%, to $66.96 a barrel at 0122 GMT, after a 5.4% drop on Tuesday.
Brent crude futures gained $1.01, or 1.5%, to $70.24 a barrel, after a 3.9% slump on Tuesday.
The Organization of the Petroleum Exporting Countries (OPEC) will meet on Wednesday after 1300 GMT ahead of a meeting on Thursday of OPEC+, which includes OPEC and allies including Russia.
