Friday, August 07
London: OPEC+ is likely to keep its pause on oil output increases for March when it meets on Sunday, five delegates told Reuters, even as crude climbs above $70 a barrel on concern the U.S. could launch a military strike on OPEC member Iran.The meeting of eight OPEC+ members, which pump about half the world's oil, comes as Brent crude has risen to almost $72 a barrel, its highest since August, despite speculation that a supply glut would push prices down.The eight producers - Saudi Arabia, Russia, the United Arab Emirates, Kazakhstan, Kuwait, Iraq, Algeria and Oman - raised production quotas by about 2.9 million barrels per day from April through December 2025, roughly 3% of global demand. They then froze further planned increases for January through March 2026 because
