US EditionOPEC+ may consider larger oil output boost, sources say, as Saudi, UAE up exports
- 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.
231 Articles
231 Articles
OPEC Debates Oil Output Boost as US War on Iran Disrupts Shipments
When there is drought, however much you open the tap, the water falls with the dropper. It is an image that sums up well the situation in which the energy sector can now find itself. The cartel of the oil exporting countries (OPEC), plus other allied countries captained by Russia has decided this Sunday to increase production to supply the market after the attacks of the US and Israel on Iran. Continue reading...
Will Iran conflict send oil prices above $100 a barrel?
The US-Israel attack on Iran and Iran's aggressive response have unnerved oil markets, with many analysts predicting a massive rise in oil prices. While Iran is responsible for just 3-4% of global oil output, its proximity to the Strait of Hormuz, considered the most critical oil chokepoint in the world, is prompting oil analysts to raise their forecasts for future oil prices. A prolonged disruption to traffic in the strait, through which a fift…
By Renée Rigdon, Hanna Ziady and Auzinea Bacon, CNN - US and Israeli attacks on Iran are expected to send oil prices soaring when futures trading opens Sunday at 6 p.m. ET, experts warn. The Organization of the Petroleum Exporting Countries (OPEC) and its allies said early Sunday they will increase their daily output by 206,000 barrels per day, after pausing gradual production increases earlier this year. In the fourth quarter, OPEC raised produ…
OPEC+ boosts output by 206,000 bpd amid Iran conflict, but market risks persist
Key members of the OPEC+ oil cartel announced a greater-than-expected increase to production quotas on Sunday following US and Israeli strikes on Iran that triggered retaliation by Tehran across the West Asia.
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