OPEC+ Considers 137,000 bpd Oil Production Hike for April

OPEC+ is reportedly considering a production increase of 137,000 barrels per day (bpd) starting in April 2026. This potential move marks the end of a three-month pause in output hikes implemented during the first quarter of the year to stabilize the market. According to reports from Bloomberg, the decision aims to address the anticipated surge in global oil demand during the peak summer season. Key members, including Saudi Arabia, are looking to balance market stability with strategies to reclaim market share and gradually unwind previous cuts. While the increase is relatively modest, it signals a shift toward increasing supply as the alliance monitors global economic conditions. Market analysts suggest that this additional supply could exert downward pressure on crude prices, though seasonal demand may offset some of the immediate impact.