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Russia may up oil production, while OPEC + may extend cut by 1 mln bpd — source

Discussions on options for action in April are still ongoing, the source noted

MOSCOW, March 4. / TASS /. OPEC + ministers are discussing the extension of the additional reduction in oil production by 1 mln b/d, which Saudi Arabia assumed in February-March, and into April, while at the same time, Russia may get the possibility of a small increase in production, a source in OPEC told TASS on Thursday.

"The Saudis will extend the cut by 1 mln bpd," he said, adding that Russia would be able to "increase a little." At the same time, discussions on options for action in April are still ongoing, this scenario is not yet a baseline, he added.