Overview

• OPEC+ confirms maintaining production cuts through June, driving oil prices toward five-month highs.
• Brent crude approaches $90 a barrel, with West Texas Intermediate near $86, following over 2% growth in previous sessions.
• Analysts predict high oil prices to persist into Q2 due to tight supply/demand dynamics and geopolitical concerns.
• Iraq and Russia's compliance with OPEC+ quotas remains uncertain, potentially impacting future production levels.
• Oil prices surged in Q1, with significant gains for major oil and gas producers and speculative investors showing increased interest.