OPEC+ is expected to postpone once again its 120,000 barrel-a-day hike

  • if so it'll be the fourth time the plan has been delayed
  • currently OPEC+ aims to restore 2.2 mn barrels a day total, in monthly increments, starting from April

ANZ analysts:

  • OPEC’s ability to phase out production cuts without disrupting the oil market is getting increasingly difficult
  • Given the economic and geopolitical uncertainties and its need to support oil prices, we expect OPEC will delay
OPEC
Source: Forex Live