OPEC+ said to boost output by 206K bpd in April

The Organization of the Petroleum Exporting Countries and its partners (OPEC+) are holding a meeting on Sunday, during which it is expected that the April crude production will be increased by 206,000 barrels per day (bpd), AzerNEWS reports.

The decision comes as chaos consumes the Middle East. Earlier, the United States and Israel conducted joint attacks against Iran, which led the latter to retaliate, targeting various countries in the region that host US military bases and other assets.

The OPEC+ move likely aims to minimize the impact the strikes might have on oil prices.