OPEC+ Expected to Resume Output Increases Starting April

OPEC+ is expected to resume increasing oil production starting April, sources said, amid preparations for peak summer demand and amid price support from heightened U.S.-Iran tensions. The move would allow Saudi Arabia and the UAE to regain market share as Russia, Venezuela and Iran face Western sanctions and Kazakhstan experiences output setbacks. Eight OPEC+ producers, including Saudi Arabia and Russia, are scheduled to meet March 1 to discuss the timing and scale of production increases. No decision has been finalized, with continued negotiations expected in the coming weeks before the meeting.