OPEC+ is reportedly leaning towards resuming oil output hikes from April, sources report; no decision has been made, and discussions will continue heading into the next meeting on March 1

OPEC+ is reportedly leaning towards resuming oil output hikes from April, sources report; no decision has been made, and discussions will continue heading into the next meeting on March 1.

The indication that OPEC+ is considering resuming oil output hikes could lead to increased supply in the market, impacting oil prices when confirmed. However, as no decision has yet been made, traders should remain cautious and closely monitor developments ahead of the March 1 meeting, as any shifts in output policy could reverberate through related markets like currencies and commodities.