Oil prices settled marginally higher on Friday after data showed an overall slowdown in US inflation, helping offset supply concerns as OPEC+ is leaning towards a resumption in production increases.
OPEC+ is signalling a shift back to increasing oil output from April as producers prepare for stronger demand through the summer months, according to multiple officials and industry delegates ahead of a key March meeting.
MOSCOW/LONDON. OPEC+ is leaning towards a resumption in oil output increases from April, three OPEC+ sources said, as the group prepares for peak summer demand and price strength ....
Production improved in 2025 to an annual average of 1.453 million bpd, according to OPEC, reflecting gradual recovery efforts in the upstream sector. However, OPEC’s calculation is based on only oil production and not condensate output.