Oil falls as OPEC+ sticks to regular output increase

The Organization of the Petroleum Exporting Countries and its allies, together known as OPEC+, decided on Thursday to release more oil into the market in January in line with previous months

Oil prices fell on Thursday as OPEC+ stuck to its policy of incrementally boosting output, even as the Omicron coronavirus variant unsettles markets and threatens to undercut fuel demand.

Brent crude futures were $1.21, or 1.7%, lower at $67.66 a barrel by 1430 GMT while U.S. West Texas Intermediate (WTI) crude futures fell $1.24, or 1.8%, to $64.33.

Global oil prices have lost more than $10 a barrel since last Thursday, when news of Omicron first shook investors.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, together known as OPEC+, decided on Thursday to release more oil into