Kazakhstan, Russia, Saudi Arabia and other key OPEC+ countries have agreed a paper-based modest oil output hike for next month, raising the output targets to 188,000 barrels a day in June.
Profits for worldwide energy company TotalEnergies have risen 41% in three months, as global energy supplies are disrupted after two months of war and oil prices have increased by 3%.
Oil prices surged on Monday (13 April) as the U.S. moved to impose a blockade on Iranian shipping after the collapse of weekend peace talks, while the dollar rose and stocks and bonds fell.
The European Commission sees no immediate impact on the European Union's security of oil supply from the escalating conflict in the Middle East, it said in an email to EU governments, seen by Reuters on Monday (2 March).
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