OPEC+ agreed on Sunday to raise oil output by a modest 206,000 barrels per day (bpd) in April, opting for a cautious supply increase even as the U.S.-Israeli war on Iran disrupts shipments across the Middle East. The decision, confirmed in an official statement after the group’s meeting, involves eight core members: Saudi Arabia, Russia, the UAE, Iraq, Kuwait, Kazakhstan, Algeria and Oman. The increase ends a three-month pause in production hikes but falls well below the larger boosts of up to 411,000–548,000 bpd that had been discussed…