OPEC+ Considers Tripling April Oil Output Increase to 411,000 bpd Amid Iran Supply Fears

OPEC+ delegates signaled to Bloomberg Saturday that the cartel will consider raising April oil production by 411,000 barrels per day—three times the previously planned 137,000 bpd increase—in response to Operation Epic Fury and fears of supply disruption through the Strait of Hormuz. The group's monthly meeting, scheduled for Sunday, has taken on heightened urgency as Iran's threats to close the strait put up to 20% of global oil supply at risk.