Some OPEC+ representatives have stated that they expect the organization to agree to a slight increase in production when they meet at the end of this week to review April's policy. According to three representatives, OPEC+ has not yet finalized an action plan ahead of the Sunday video conference. The ongoing escalation of the US-Iran conflict also casts a shadow over the outlook. Despite widespread expectations of oversupply, oil demand remains strong, and prices have risen by about 17%. Several officials have indicated that they expect a series of small price hikes starting in April and have reiterated the possibility of such moves. Some analysts suggest that OPEC+ may increase output by 137,000 barrels per day, consistent with the smallest increase since the end of last year.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Some OPEC+ representatives have stated that they expect the organization to agree to a slight increase in production when they meet at the end of this week to review April's policy. According to three representatives, OPEC+ has not yet finalized an action plan ahead of the Sunday video conference. The ongoing escalation of the US-Iran conflict also casts a shadow over the outlook. Despite widespread expectations of oversupply, oil demand remains strong, and prices have risen by about 17%. Several officials have indicated that they expect a series of small price hikes starting in April and have reiterated the possibility of such moves. Some analysts suggest that OPEC+ may increase output by 137,000 barrels per day, consistent with the smallest increase since the end of last year.