OPEC+ at March 1st meeting to consider 137,000 bpd oil output increase for April
Newsquawk Staff ·
OPEC+ at March 1st meeting to consider 137,000 bpd oil output increase for April.
What it means
OPEC+ is reportedly considering an increase of 137,000 barrels per day in oil output for April during their March 1st meeting. This potential output rise suggests a shift towards addressing supply constraints, but the implications depend on global demand dynamics and current price levels. Traders should watch for reactions in crude prices and potential effects on inflation and currency flows related to the energy sector.
- ADNOC reportedly informed some Asian refiners that it may begin delivering Upper Zakum crude via a new pipeline to the Fujairah terminal in early 2027, allowing shipments to bypass the disrupted Strait of Hormuz, according to Bloomberg
- US White House says the oil agreement with Venezuela will deliver a total of 65bln barrels
- Syria and Iraq discuss exporting Iraqi oil via the Baniyas pipeline
- UAE’s Sharjah temporarily closes all its beaches as a precautionary measure after an oil spill, according to a statement
- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects
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