0908 GMT - Brent crude prices are expected to dip below the $70-a-barrel mark if OPEC+ doesn't quickly change its course, according to DNB Markets. The cartel and its allies decided to stick to their plans to gradually raise output from April, against market expectations. That implies a monthly production increase of 137,000 barrels a day from April 2025 to September 2026, according to DNB. "There is no room for additional OPEC+ oil in the market," energy analysts Helge Andre Martinsen and Tobias Ingebrigtsen say. "This marks a shift in OPEC+ behavior. Whether this move was triggered by pressure from President Trump and/or expectations of declining Iranian oil export amid tighter sanctions is not yet clear." (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
March 04, 2025 04:09 ET (09:09 GMT)
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