OPEC+ will proceed with plans to revive halted oil production after repeated delays, amid pressure from President
In a surprise move that sent crude tumbling, the group led by Saudi Arabia and Russia will go ahead with the increase of 138,000 barrels a day in April, according to a statement posted on the group’s website. It will be the first in a series of monthly hikes to revive production halted for more than two years, which will gradually restore a total of 2.2 million barrels a day by 2026.
“This gradual increase may be ...