OPEC Delegates See Another Small Supply Boost Despite Pressure
- Producers’ group set to make decision on strategy on March 2
- Gulf ministers said current OPEC+ pact is balancing the market
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Several of OPEC+’s biggest oil producers want the group to continue with its strategy and add another 400,000 barrels a day of crude to the market in April, according to people familiar with the matter.
The Organization of Petroleum Exporting Countries and its partners -- a 23-nation alliance led by Saudi Arabia and Russia -- will meet virtually on March 2 to make a decision about output for the following month. All members need to be in agreement.