Wall Street Live

OPEC+ Holds Firm: Oil Eyes $90 Amid Supply Fears

By Athena Xu

4/4, 07:08 EDT
  • Oil's bullish sentiment remains strong as Brent crude hovers around $90 a barrel, driven by geopolitical tensions and supply risks.
  • OPEC+ plans to maintain output restrictions until June, with expectations of discussions on easing restrictions at the June meeting due to strong demand projections.
  • Saudi Arabia's recent increase in oil exports and potential price hikes indicate confidence in robust demand, with $90 a barrel seen as a suitable level to support budgets without causing inflationary pressures.