The OPEC+ meeting has concluded that no change in production plans is needed, agreeing to lift the group’s production by another 432,000 barrels per day starting in May. The 32,000 bpd above the originally agreed to 400,000 bpd is due to shifting baselines of five of its members. Saudi Arabia’s production quota has been lifted to 10.549 million bpd, with Russia’s quota lifted by the same amount. The UAE’s quota is 3.04 million bpd, Kuwait’s is 2,694, while Iraq’s is 4.461 million bpd. The agreement is largely…
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