OPEC+ agrees on 432K BPD output quota hike in May as expected, next meeting to be held on May 5

OPEC+ agreed as expected to increase oil output quotas by 432,000 barrels per day (BPD) from May, as had broadly been expected by analysts, and as had been recommended by the group's Joint Ministerial Monitoring Committee, whose meeting concluded just minutes ago, reported Bloomberg on Thursday.