OPEC+ may raise oil output in April

OPEC+ countries are highly likely to approve an increase in oil production in April, Bloomberg reported, citing delegation sources.

The decision is expected to be taken at a scheduled meeting later this week.

Russia, Saudi Arabia, the UAE, Iraq, Algeria, Kuwait, Kazakhstan and Oman are set to participate in the talks.

Analysts suggest output could rise by around 137,000 barrels per day, reflecting current price conditions and efforts to ensure stability in global energy markets.