OPEC+ is considering raising oil output by 137,000 barrels per day in April after a three-month pause, aiming to meet peak summer demand and counter tensions between the U.S. and Iran. This move would allow Saudi Arabia and other members to regain market share while Russia and Iran face sanctions and Kazakh output recovers. Eight OPEC+ producers will meet on March 1 to discuss. Additionally, Saudi Arabia has a plan for a short-term oil output and export surge in case of a U.S. strike on Iran disrupting oil flows from the Middle East. OPEC, Russia, and Saudi Arabia have not commented on these developments.

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