OPEC + Coalition Members Meet to Determine Oil Output

Objectivity 4.2 | Credibility 4.5 | Relevance 4.8

OPEC and their oil-producing allies meet on March 2 to deliberate over the amount of daily oil production for April as Russia’s invasion of Ukraine has caused oil prices to soar. Production was halted during the pandemic as demand plunged, but with travel restrictions lifting, market supply is not adequate to meet the rising demand. The uncertainty of the market caused by the conflict in Ukraine and the geopolitical risks of sanctions must be considered by participating countries of OPEC.