Oil prices fall after Opec+ confirms crude production increase

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Opec+ said it would proceed with a plan to increase oil production from April, in an unexpected move by the cartel that sent crude prices tumbling.

Saudi Arabia and seven other members of the Opec+ group had previously delayed a plan to unwind long-standing output cuts several times and traders had widely expected it to be postponed again.

But Opec+ said on Monday it had agreed to proceed with the “gradual and…