OUTPUT LOWER THAN ANTICIPATED AS OPEC+ NATIONS WRESTLE WITH CAPACITY CONSTRAINTS
On Wednesday this week, OPEC+ held one of its briefest meetings where it was decided that the group would maintain its 400,000 bpd supply increase for March. However, the projected increases in output differ to actual observed levels of output as several OPEC members have struggled to meet current monthly targets and lack the capacity to expand output levels even further.
