Some OPEC+ delegates expect the group will agree to resume modest production increases this Sunday regarding April policy, Bloomberg reports

OPEC+ is leaning towards modest production increases, which could impact oil prices, especially if the agreement materializes amid rising geopolitical tensions involving the US and Iran.

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Some OPEC+ delegates expect the group will agree to resume modest production increases this Sunday regarding April policy, Bloomberg reports

Kazahstan reportedly increased its oil and gas condensate production to 1.78M BPD during February (prev. 1.27M BPD in January)

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  • The group hasn’t yet settled a course of action ahead of its Sunday meeting, three sources said.
  • Escalating risks of conflict between the US and Iran are also clouding the outlook.
Context

This decision may signal a balancing act between managing oil supply and addressing escalating regional risks, potentially affecting market sentiment in the short term.

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