Overview
- Delegates say a Sunday meeting could approve a larger supply increase than previously planned in response to the Iran strikes.
- Saudi Arabia and the United Arab Emirates have already raised exports to cushion any potential disruption to regional supply.
- The alliance had penciled in about a 137,000 barrels-per-day rise for April after a three-month pause in increases.
- Brent hovered near $73 a barrel, the highest in months, reflecting concern over potential disruption in Iran, which supplies about 4.5% of global oil.
- Traders expect Abu Dhabi to ship more Murban crude in April, while the precise scale of any extra OPEC+ boost remains undecided.