News Summary

• OPEC+ warned that damage to Middle East energy assets will have a prolonged impact on oil supply even after the Iran war ends.
• Key producers led by Saudi Arabia and Russia agreed to increase targets for May by about 206,000 barrels a day during a video conference.
• Oil prices have been roiled by five weeks of conflict, climbing to almost $120 a barrel last month as key Gulf energy assets came under attack and Iran effectively closed the critical Strait of Hormuz, creating what the International Energy Agency called the biggest supply disruption in the history of the market.