OPEC+ meets as oil output hike looms

OPEC+ ministers, led by Saudi Arabia and Russia, are discussing production increases amid falling oil prices, following recent output hikes for May and June. The group, which began cuts in 2022 to stabilize crude prices, has faced pressure from U.S. President Trump to lower prices, prompting the increases as a potential penalty for members not meeting quotas. A decision on further production hikes is expected at an upcoming meeting, but analysts anticipate minimal impact on oil prices, which remain around $60-$65 per barrel.