OPEC+ plans symbolic oil quota hike amid war, delegates say

OPEC+ members plan to raise their production quotas for May, in a symbolic move as the Middle East conflict constrains production and shipments from several of the alliance’s largest members.

Key members of the group have an agreement in principle to increase production targets by about 206,000 barrels per day during a video conference later on Sunday, according to two delegates who asked not to be identified discussing private deliberations.