The OPEC+ alliance is leaning toward resuming production increases from April as it prepares for peak summer demand, with US–Iran tensions lending support to oil prices, sources with knowledge of the matter told Reuters.
The sources said no final decision has been made, but members are inclined to move ahead with the planned increase at their early March meeting. Talks among member states are set to continue in the weeks leading up to the meeting.
OPEC+ members had previously raised output quotas by around 2.9 million barrels per day from April through December-end 2025, while pausing further increases during the first quarter of this year due to seasonal demand weakness.
The OPEC+ alliance is leaning toward resuming production increases from April as it prepares for peak summer demand, with US–Iran tensions lending support to oil prices, sources with knowledge of the matter told Reuters.
The sources said no final decision has been made, but members are inclined to move ahead with the planned increase at their early March meeting. Talks among member states are set to continue in the weeks leading up to the meeting.
OPEC+ members had previously raised output quotas by around 2.9 million barrels per day from April through December-end 2025, while pausing further increases during the first quarter of this year due to seasonal demand weakness.
