The OPEC oil cartel led by Saudi Arabia and allied countries agreed to a limited boost in output in the coming months during a meeting on Thursday, with member states anticipating recovering demand this year. The announcement caused oil prices to spike, with Brent crude rising nearly 1.9% to $64.63 (€54.90). The oil-producing nations agreed to slowly increase output as the global economy recovers. The group will boost output by 350,000 barrels per day in May, 350,000 in June and 400,000 in July. A statement released by OPEC after the meeting said that ministers have seen improvements in international markets due to stimulus packages and vaccination …
