Producers' group reacts as the Middle East crisis threatens to fan a geopolitical risk driven oil price spike in a market that seemed pretty well supplied until now.

OPEC Plus Group on Sunday agreed to increase oil output by 206,000 barrels per day during the upcoming month of April.Representatives of the eight member s...

Major oil producing nations have pledged to raise production starting in April. The move comes amid fears that conflict in Iran, which has choked off the critical Strait of Hormuz energy shipping route, could force crude prices to jump to $100 a barrel.

OPEC+ announces a higher-than-expected oil production increase of 206,000 bpd as Middle East tensions rise, sparking concerns about market stability.

LONDON/MOSCOW, Feb 28 (Reuters) - OPEC+ may consider a larger-than-planned output increase of 411,000 barrels per day at a meeting on Sunday, two sources close to the talks said, after Saudi Arabia and the UAE raised exports in anticipation of possible disruption to oil markets from U.S.-Israeli strikes on Iran carried out on Saturday.

Shares to fall as Iran, the US and Israel trade barbs; OPEC+ to lift oil production as analysts warn on prices; Magellan and Barrenjoy in $1.6b merger; Lynas’s Malaysia extension. Follow live.

WTI crude surges as war risk premium returns, with traders eyeing Iran tensions, rising OPEC production plans, and key technical levels reclaimed by buyers.