MOSCOW, December 13. /TASS/. The spread of the novel Omicron strain of the COVID-19 coronavirus will not have a strong effect for the oil consumption rate, the Organization of Petroleum Exporting Countries (OPEC) said in its December report.

The impact of the novel Omicron strain is expected to be moderate and time-limited because the world is better adapted to combating COVID-19, OPEC experts said. Economic prospects in developed and developing economies are stable, according to the report. Global coronavirus vaccination rates are high, OPEC noted.

The Joint Technical Committee (JTC) of OPEC+ attempted to assess the impact of the new strain on oil demand in early December but committee experts concluded that at least two weeks would be needed to fully assess Omicron strain danger.