OPEC+ Considers Production Increase At March Meeting

OPEC+ will discuss the possibility of increasing its oil production levels at the next meeting, OPEC+ sources told Reuters on Wednesday. The group is set to meet on March 4, where it will discuss raising output as much as a half a million barrels per day starting in April, the sources said. OPEC+ members are currently suppressing oil production by more than 7 million barrels per day, but with oil prices now on the rise and the markets getting the idea that the market could be tightening, OPEC+ may consider loosening the reins. The last Joint Ministerial…