OPEC+ Delegates Expect Group to Resume Modest Supply Hikes

Some OPEC+ delegates said they expect the group will agree to resume modest production increases when it meets this weekend to review policy for April.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Some OPEC+ delegates said they expect the group will agree to resume modest production increases when it meets this weekend to review policy for April.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.The group led by Saudi Arabia and Russia hasn’t yet settled a course of action ahead of its video conference on Sunday, according to three delegates, who asked not to be identified as the talks are private. Escalating risks of conflict between the US and Iran are also clouding the outlook.READ, Feb. 13: Some OPEC+ Nations See Scope to Resume Supply HikesNonetheless, with oil demand proving robust and prices up roughly 17% despite widespread expectations of a supply surplus, several officials said they anticipate a series of small hikes to resume in April or reiterated views that there’s scope for this. Some analysts said OPEC+ could add 137,000 barrels a day, in line with the minimal additions made late last year.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.While prominent forecasters warned of a significant supply glut this year, it hasn’t so far weighed on prices — partly because of the escalating geopolitical risks, but also amid a range of output disruptions spanning from North America to Kazakhstan and Russia.US shale oil giant Diamondback Energy Inc. said on Monday that the “wave of oversupply” is being deferred further out in time, a view echoed the following day by Baker Hughes Co., one of the world’s largest oilfield service providers.—With assistance from Nayla Razzouk and Fiona MacDonald.Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.