Reports from Bloomberg News earlier on Monday stated that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+, are considering postponing plans to increase crude oil supplies, which are set to take effect in April.
Some sources familiar with the matter told the news agency that OPEC+ still views the crude oil market as extremely fragile and unprepared for measures to increase production at this time, as OPEC+ has reduced its oil production since 2022 in an effort to maintain stability and balance in the oil market.
In this regard, Russian Prime Minister and former Energy Minister Alexander Novak denied these reports regarding the delay in the recovery of OPEC+ supplies, clarifying that the oil alliance is not considering delaying supply increases at least for the time being.
