OPEC+ has a 1.5 million bpd decision due today

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OPEC+ is due to make a major decision today – whether to restore as much as 1.5 million barrels per day back into global oil markets starting in April. The sustained rise in global oil prices has given this alliance of 23 major oil producing nations the chance to push out more of their output.

At the time of writing, Brent futures have already gained over 24% so far this year and are trading around their highest levels since January 2020.

 

Meanwhile, US crude finds itself above the $60/bbl psychologically-important level, with WTI futures having added 26% on a year-to-date… Read More:

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