Several OPEC+ representatives have indicated that the alliance is expected to approve a modest resumption of production increases when it meets this weekend to review output policy for April.

Three representatives, who requested anonymity due to the private nature of the discussions, stated that OPEC+, led by Saudi Arabia and Russia, has not yet finalized its course of action ahead of a scheduled video conference on Sunday.

Despite this, with oil demand showing robust performance and prices having risen approximately 17% even amid widespread expectations of a supply surplus, the three officials expressed their expectation for a series of small production increases to be reinstated in April. Another official acknowledged the possibility of such a move but noted that the decision remains uncertain due to an unclear outlook, partly driven by escalating risks of conflict between the US and Iran.

Some analysts suggest that OPEC+ might increase production by 137,000 barrels per day, aligning with the minimal increment implemented at the end of last year.