Saudi Arabia Raises Oil Prices in Bullish Move

The transcript discusses Aramco's decision to raise prices for Asian customers, which was anticipated by the market following an OPEC+ meeting. Despite the Omicron variant, demand is expected to remain strong. However, a shift from a supply deficit to a surplus is predicted, potentially lowering prices in early 2022. OPEC's decision to keep meetings open allows for quick adjustments based on market changes. A significant drop in jet fuel demand is expected due to reduced air travel, influenced by the Omicron variant.

Why has OPEC kept its meeting open and what does it signify?

What is the expected impact of the reduction in jet fuel demand on the oil market?