OPEC+ Sticks to Planned Supply Hike With Added Escape Clause
- U.S. welcomes agreement to boost crude supply in January
- Group says it could revisit the decision if the market changes
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OPEC and its allies bowed to consumer pressure by proceeding with their scheduled oil-production hike, but said they could revisit the decision at any moment due to the tremendous uncertainty in the market.
The group agreed to add 400,000 barrels a day of crude to global markets in January, a move that should please nations worried about high prices -- notably the U.S.