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Saudi Arabia plans to increase oil output amid recovery in prices

World's largest oil exporter plans to reverse recent unilateral production cut, signalling confidence in recovery

crude oil prices
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OPEC+ oil producers are likely to ease curbs on supply after April given a recovery in prices

Agencies
Saudi Arabia plans to increase oil output in the coming months, reversing a recent production cut, the Wall Street Journal reported on Wedn­esday, citing advisers to the country.
 
The world’s largest oil exporter surprised oil markets last month when it said it would unilaterally slash 1 million barrels a day of crude production in February and March in an effort to raise prices.
 
Saudi Arabia is expected to announce its plans when a coalition of oil producers meets next month, according to the WSJ report, adding that the output rise won't kick in until April.
 
But Saudi

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