OPEC+ weighs larger-than-planned output increase Sources say after Iran strike

OPEC+ countries will consider increasing oil production by a larger volume than previously planned during talks on March 1, two sources close to the negotiations said.

According to Reuters, the discussion comes amid risks of supply disruptions following the US-Israeli attack on Iran.

A meeting of eight alliance members — Saudi Arabia, Russia, the United Arab Emirates, Kazakhstan, Kuwait, Iraq, Algeria, and Oman — is scheduled for 11:00 GMT. Earlier expectations were that the group would approve a moderate production increase of 137,000 barrels per day in April, marking the end of a three-month pause in output growth.

However, sources say a more substantial increase in quotas may also be discussed, although specific parameters have not yet been determined.

Against the backdrop of rising tensions, major producers have already begun increasing exports. According to trading sources, Abu Dhabi plans to raise shipments of Murban crude in April. Reuters sources also reported that the United Arab Emirates has boosted production and exports under an emergency plan.

From April to December 2025, the eight OPEC+ countries had already raised quotas by about 2.9 million barrels per day — roughly 3% of global demand — before suspending further increases from January through March 2026 due to seasonal demand weakness.

By Tamilla Hasanova