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OPEC+ led by Saudi Arabia and Russia will add 206,000 barrels per day in April, ending a pause in its output hikes. The decision was announced after the group's monthly video conference on Sunday, as the Iran conflict continues.
The added barrels are modest, and the group's spare capacity is limited while Hormuz flows are disrupted. Crude prices are likely to remain supported by supply risk, which feeds into diesel and fertilizer costs.
bloomberg.comGrant Smith, Nayla Razzouk, Salma El Wardany, Fiona MacDonaldMar 1, 2026After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% over 20.
After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
