<p>OPEC+ revised down its forecast for the 2022 oil market surplus by about 200,000 barrels per day (bpd) to 1.1 million bpd, according to a base scenario in a technical committee report seen by Reuters on Sunday.</p>.<p>The data - part of a report the Joint Technical Committee (JTC) prepares for OPEC+ ministers - also shows stocks in the developed world standing at 62 million barrels below the 2015 to 2019 average by the end of the year.</p>.<p>In a previous forecast it had predicted the stocks would reach 20 million barrels above the same average by that point.</p>.<p>Ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, a grouping known as OPEC+, meet on March 2 to decide whether to increase output by 400,000 bpd in April.</p>.<p>Sources from the group told Reuters their output deal is showing no cracks so far after Russia's invasion of Ukraine, and the group is likely to stick to a planned output rise despite crude topping $100 a barrel.</p>.<p>Data from a separate JTC report seen by Reuters on Sunday showed the group produced in January 972,000 bpd less than the targets outlined by the deal, compared with 824,000 less in December.</p>.<p><strong>Check out DH's latest videos:</strong></p>
<p>OPEC+ revised down its forecast for the 2022 oil market surplus by about 200,000 barrels per day (bpd) to 1.1 million bpd, according to a base scenario in a technical committee report seen by Reuters on Sunday.</p>.<p>The data - part of a report the Joint Technical Committee (JTC) prepares for OPEC+ ministers - also shows stocks in the developed world standing at 62 million barrels below the 2015 to 2019 average by the end of the year.</p>.<p>In a previous forecast it had predicted the stocks would reach 20 million barrels above the same average by that point.</p>.<p>Ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, a grouping known as OPEC+, meet on March 2 to decide whether to increase output by 400,000 bpd in April.</p>.<p>Sources from the group told Reuters their output deal is showing no cracks so far after Russia's invasion of Ukraine, and the group is likely to stick to a planned output rise despite crude topping $100 a barrel.</p>.<p>Data from a separate JTC report seen by Reuters on Sunday showed the group produced in January 972,000 bpd less than the targets outlined by the deal, compared with 824,000 less in December.</p>.<p><strong>Check out DH's latest videos:</strong></p>