Saudi Arabia to increase oil output above 10m bpd in April after OPEC+ deal collapse

Current OPEC+ cut deal expires in March. (File/Shutterstock)

• The supply cut agreement with Russia is due to expire in March, there is no new deal

DUBAI: Saudi Arabia, the world’s top oil exporter, plans to raise its crude oil production significantly above 10 million barrels per day (bpd) in April, after the end of the OPEC supply cut agreement with Russia, two sources told Reuters on Sunday.

Saudi Energy Minister Prince Abdulaziz bin Salman visited state oil giant Aramco on Saturday and asked the company to boost its crude output after the current OPEC+ cut deal expires at the end of March, the sources said.