Goldman Sachs expects OPEC+ to postpone the planned production increases.

In a memo released on Wednesday, analysts at the renowned American investment bank Goldman Sachs stated that they expect the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to delay the gradual production increases that member countries were scheduled to implement starting in April.

According to the memo, Goldman Sachs's new forecasts indicate the possibility that OPEC+ will postpone those planned increases, with a return to normal production levels shifted from April to July.

The analysts at the American lending giant say that a potential peace agreement between Ukraine and Russia, along with any resulting alleviation of sanctions imposed on Russia and its oil exports, is unlikely to increase Russian oil flows.

Goldman Sachs's predictions come after a media report earlier in the week indicated that informed sources on OPEC+ operations suggested that the coalition might delay the start of the scheduled production increases.

However, the Russian Deputy Prime Minister and former Minister of Energy Alexander Novak immediately denied those reports upon their release, stating that his country will adhere to the production increase plan in April, adding that he sees the conditions of the global oil market as having stabilized recently.