The OPEC+ group of oil producers agreed on Sunday (Mar 1) to raise output by 206,000 barrels per day from April, representing less than 0.2 per cent of global demand.

The OPEC+ group of oil producers agreed on Sunday (Mar 1) to raise output by 206,000 barrels per day from April, representing less than 0.2 per cent of global demand.

The OPEC+ group of oil producers agreed on Sunday (Mar 1) to raise output by 206,000 barrels per day from April, representing less than 0.2 per cent of global demand.

“While the military attacks are themselves supportive for oil prices, the key factor here is the closing of the Strait of Hormuz,” says Ajay Parmar.