OPEC+ to consider 137,000 bpd oil output increase for April

OPEC+ to consider 137,000 bpd oil output increase for April

The increase in output is being considered as the group prepares for peak summer demand and the rising prices prompted by tensions between the US and OPEC member Iran.

Opec+ EPA 030525
The OPEC logo at its headquarters in Vienna, Austria.  OPEC+ has paused output increases for Q1 2026, with Brent crude near its highest level since July. (EPA Images pic)
LONDON:
OPEC+ will likely consider raising its oil output by 137,000 barrels per day for April to end a three-month pause in production increases, three sources with knowledge of OPEC+ thinking said.

The increase in output is being considered as the group prepares for peak summer demand and tensions between the US and OPEC member Iran boost prices.

The resumption would allow OPEC leader Saudi Arabia and fellow members, such as the UAE, to regain market share at a time other OPEC+ members, such as Russia and Iran, contend with Western sanctions and Kazakh output is recovering from a series of setbacks.

Eight OPEC+ producers – Saudi Arabia, Russia, the United Arab Emirates, Kazakhstan, Kuwait, Iraq, Algeria and Oman – will meet on March 1.

In a separate development, top OPEC+ producer Saudi Arabia has activated a plan for a short-term oil output and export surge in case a US strike on Iran disrupts oil flows from the Middle East, two sources familiar with the Saudi plan said.

OPEC and authorities in Russia and Saudi Arabia did not reply immediately to requests for comment.

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