OPEC+ Unlikely To Change Course On Output Despite $100 Oil, Ukraine Crisis

Despite $100 oil and the Russian invasion of Ukraine, the OPEC+ alliance is set to rubberstamp another 400,000 bpd increase in monthly production targets next week, several OPEC+ sources told Reuters on Friday. Russia and OPEC's de facto leader Saudi Arabia lead the OPEC+ group, which has been managing supply to the market since the beginning of 2017 and survived the 2020 crash in demand and a month-long rift over market share between OPEC's Saudi Arabia and the leader of the non-OPEC group in the pact, Russia. Several OPEC members are also U.S.…