Baghdad: The OPEC+ alliance is contemplating a decision to boost oil production by 137,000 barrels per day starting in April, following a three-month period of stagnant production levels. The potential move comes as the alliance prepares for the anticipated peak in summer demand, while ongoing tensions between the United States and Iran, a member of OPEC, have been contributing to rising prices.

According to National Iraqi News Agency, the possibility of resuming production increases would enable other OPEC members to reclaim market share. This comes at a time when some OPEC+ members are dealing with Western sanctions and Kazakhstan’s production levels are recovering from previous challenges. Representatives from eight OPEC+ countries are scheduled to convene on March 1st to deliberate on this proposal.