By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler MOSCOW/LONDON, Feb 13 (Reuters) - OPEC+ is leaning towards resuming increases to oil output from April, three OPEC+ sources said, as the group
Exclusive-OPEC+ leans towards resumption in oil output increases from April,
OPEC+ Production Plans
By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler
MOSCOW/LONDON, Feb 13 (Reuters) - OPEC+ is leaning towards resuming increases to oil output from April, three OPEC+ sources said, as the group prepares for peak summer demand and price strength is bolstered by tensions over U.S.-Iran relations.
The resumption of production increases will allow OPEC leader Saudi Arabia and fellow member the UAE to regain market share at a time members such as Russia, Venezuela and Iran contend with Western sanctions and a series of setbacks restrain Kazakh output.
Meeting Details
Eight OPEC+ producers - Saudi Arabia, Russia, the United Arab Emirates, Kazakhstan, Kuwait, Iraq, Algeria and Oman - meet on March 1.
Current Market Conditions
No decision has yet been made and talks will continue in the weeks ahead of the meeting, two of the sources said.
OPEC and authorities in Russia and Saudi Arabia did not reply immediately to requests for comment.
(Reporting by Olesya Astakhova in Moscow and Alex Lawler and Ahmad Ghaddar in LondonWriting by Alex LawlerEditing by David Goodman)
