US EditionOPEC+ may consider larger oil output boost, sources say, as Saudi, UAE up exports
OPEC+ considers boosting oil production beyond 137,000 bpd to offset risks from US-Israel strikes on Iran and potential Strait of Hormuz disruptions, officials said.
- On Sunday , OPEC+ may consider a larger-than-planned output increase, while Saudi Arabia and the UAE have already raised exports, sources said.
- In response to regional escalation, the explosion in Tehran on Saturday followed U.S. and Israeli strikes on Iran, prompting OPEC+ deliberations.
- Sources said larger options now include a 411,000 bpd rise and possibly as much as 548,000 bpd, beyond the base-case April increase of 137,000 barrels per day.
- Futures reached $73 a barrel on Friday as markets priced in disruption, with Goh saying "That is the pattern markets will reference on Monday" amid risk-off expectations.
- Having added about 2.9 million bpd in 2025, OPEC+ is positioned to adjust while Saudi Arabia’s spare capacity of 1.8 million bpd offers a buffer against shocks, sources said.
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Stop 150 ships and stop air traffic on Iran. Opec increases oil production since April
West Hawaii Today
Breaking OneOPEC+ to boost oil production as Iran strikes threaten price spike
LONDON — The eight oil-producing countries in the group known as OPEC+ said Sunday that they would increase oil production by 206,000 barrels a day in April, which could help mitigate the impact on oil prices of disrupted shipments in the Middle East.
Oil prices increased strongly after the escalation in the Middle East, but then fell slightly again. A barrel of Brent oil from the North Sea reaches the highest level since July 2024.
Brent's delivery rate in April grew by 14% at the opening of Asian bridges, reaching $82.37 per barrel, the highest level since January 2025, and the American West Texas Intermediate (WTI) ticket also registered...
The Iran war has sent the most important international oil price index soaring to its highest level in more than a year, since January last year. Brent jumped more than 10 percent, exceeding $80 per barrel, then fell back to $77.5 with some correction - but this is still a 6.4 percent increase. Brent was still around $60 in January, and this weekend's surge is the steepest since the Russian invasion of Ukraine in February 2022. The Israeli-Ameri…
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