The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, meets on March 2 to decide whether to increase output by 400,000 barrels per day (bpd) in April. OPEC+ was formed in 2016 to coordinate output cuts it is now unwinded which were put in place to address an earlier glut and then weakened demand during the pandemic.from Commodities-Markets-Economic Times
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