Sources say that OPEC+ will consider an increase in oil production of 137,000 bpd for April.

OPEC+ is likely to consider raising its oil production by 137,000 barrels a day in April, according to three sources familiar with OPEC+'s thinking. The group is preparing for the peak summer demand, and tensions between the U.S.

The resumption 'would allow OPEC leaders Saudi Arabia and other members, like the UAE, 'to regain market shares at a period when OPEC+ countries, such?as Russia, Iran and Kazakhstan, are contending with Western sanctions, and Kazakh production is recovering after a series setbacks.

On March 1, eight OPEC+ producers – Saudi Arabia, Russia and the United Arab Emirates will meet with Kuwait, Iraq, Algeria, Kazakhstan, Kuwait.

Two sources familiar with the Saudi plan have said that Saudi Arabia, the top OPEC+ oil producer, has 'activated a plan to increase short-term output and exports of oil in the event of a U.S. attack on Iran disrupting oil flows originating from the Middle East.

OPEC, the authorities of Russia and Saudi Arabia have not responded?immediately? to requests for comment.

(source: Reuters)