OPEC+ Agrees to Boost Oil Output by 206,000 Barrels

Eight OPEC+ countries have reportedly reached a preliminary agreement to increase oil production by 206,000 barrels per day starting in April. This development comes ahead of a scheduled meeting of the group, according to four sources familiar with OPEC+'s internal deliberations.

In a significant development for the oil market, eight member countries of OPEC+ have reportedly reached a preliminary agreement to increase their oil output by 206,000 barrels per day.

This arrangement is expected to come into effect in April, as confirmed by four sources familiar with the organization's internal discussions.

The news comes as OPEC+ prepares for a crucial meeting, potentially signaling a shift in the group's production strategy amid fluctuating global oil demands.

(With inputs from agencies.)