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OPEC+ Weighs Oil Output Increase Amid Market Tensions

2/14/2026

Summary

Story summary

OPEC+ is considering resuming oil output increases from April, a decision to be discussed at a March 1 meeting.
Saudi Arabia and the United Arab Emirates seek to regain market share amid Western sanctions affecting Russia and Iran.
Some members say supply-glut concerns are exaggerated.
Brent crude prices have risen toward $72 a barrel amid geopolitical tensions.
Russian Deputy Prime Minister Alexander Novak expects global oil demand to rise in spring.

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Story summary

OPEC+ is considering resuming oil output increases from April, a decision to be discussed at a March 1 meeting.
Saudi Arabia and the United Arab Emirates seek to regain market share amid Western sanctions affecting Russia and Iran.
Some members say supply-glut concerns are exaggerated.
Brent crude prices have risen toward $72 a barrel amid geopolitical tensions.
Russian Deputy Prime Minister Alexander Novak expects global oil demand to rise in spring.