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OPEC+ may consider larger oil output boost, sources say, as Saudi, UAE up exports
OPEC+ plans a cautious 206,000 barrels per day output boost in April to stabilize supply amid Middle East conflict risks, with Saudi Arabia and UAE holding key spare capacity.
- 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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From the beginning of January, global geopolitical tensions have already pushed the cost of oil up by about 10 euros. Friday, the Brent closed close by 73 dollars from the...
OPEC+ agrees to boost oil output even as US war on Iran disrupts shipments
OPEC+ agreed a modest oil output boost of 206,000 barrels per day for April on Sunday just as the US-Israeli war on Iran and Tehran's retaliation disrupted oil flows from key members of the producer group in the Middle East.
·New York, United States
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Coverage Details
Total News Sources346
Leaning Left40Leaning Right36Center120Last UpdatedBias Distribution61% Center
Bias Distribution
- 61% of the sources are Center
61% Center
L 21%
C 61%
R 18%
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