OPEC+ to Resume Oil Output Increases as Iran Conflict Rages

OPEC+ agreed to resume oil production increases at a slightly accelerated pace as a conflict sparked by US-Israeli strikes on Iran threatened to bolster a rally in crude prices.

Key members led by Saudi Arabia and Russia — which had paused a series of hikes during the first quarter — will add 206,000 barrels a day in April, according to a statement after their monthly video conference on Sunday.