OPEC+ Is Unlikely To Break From Its Production Plan

OPEC+ is widely expected to continue raising its overall production quota by 400,000 barrels per day (bpd) per the plan from last summer, despite the surging oil prices over the Russian invasion of Ukraine, a Bloomberg survey of 18 analysts and traders showed on Tuesday. The OPEC+ group—led by Saudi Arabia and Russia—is meeting on Wednesday to discuss production for the month of April, while oil prices have jumped to over $100 per barrel and the market is apprehensive that it could soon have to go without at least some Russian barrels.…