US EditionOPEC+ may consider larger oil output boost, sources say, as Saudi, UAE up exports
OPEC+ plans to boost oil output by up to 548,000 barrels per day to offset potential supply disruptions from US-Israel strikes on Iran and secure market stability.
- 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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Although the strait is more than 5,000 km from Spain, what is happening there will have a noticeable effect on the Spanish economy.
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.
The ongoing conflict in Iran has multiple consequences. Fuel prices could increase at the petrol pump. Economic editorialist Nicolas Doze delivers his analysis on LCI. - War in Iran: "A prolonged closure of the Strait of Ormuz would lead to a sharp rise in oil prices", Nicolas Doze analyses on LCI (Economy).
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.
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