GAIL share price and target: OPEC+ has decided to rollover output for all members in Apr’21 except Russia and Kazakhstan, who have been allowed to boost output by 150k b/d. Saudi Arabia will continue its 1m b/d additional output cut in Apr’21, which will be gradually pruned from May’21. Thus, OPEC+ output cuts would be 8.2-7.2m b/d in Apr-Jun’21 vs 5.8m b/d in CY21 as per Apr’20 deal. OPEC+ capping supply, in the face of European demand weakness and the recent US crude inventory surge as snowstorms shut refineries, would mean supply deficit at 0.2-0.7m b/d in Q2CY21E. GAIL share price closed in yesterday's session at Rs 147.15, up Rs 2.7 or up 1.9%.