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OPEC+ Silence Leaves Oil Market Guessing Next Supply Move

  • Analysts say group may deliver smaller boost than expected
  • Cartel meets on Thursday to discuss April production policy
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OPEC and its allies kept oil-watchers guessing about their next move, after a day of preliminary talks offered few clues as to whether the market will get the April supply increase it’s been expecting.

Saudi Arabia and Russia, leaders of group, held bilateral talks on Wednesday, seeking common ground as Riyadh urges caution and Moscow presses to raise output, a delegate said. While OPEC+ is still widely expected to revive some of the 7 million barrels a day they’ve idled, a preliminary meeting of ministers didn’t get into specifics. Delegates said several options were still on the table.