The OPEC+ alliance today plans to discuss a larger-than-expected increase in oil production after the U.S.-Israel war against Iran and Tehran’s response to it disrupted shipping in the Middle East, media outlets reported.
Saudi Arabia has increased oil production and exports in recent weeks in anticipation of a U.S. attack on Iran, sources said.
The source added that the OPEC+ coalition is scheduled to discuss increasing production by more than 411,000 barrels per day at a meeting today (Sunday). This is significantly higher than the initial forecast of an increase of 137,000 barrels per day.
Yesterday (Saturday), media outlets reported that some major oil companies and trading companies have suspended the shipment of crude oil and fuel through the Strait of Hormuz in view of the continued attacks on Iran by the United States and Israel and Tehran’s response to it.
According to media reports, the OPEC+ alliance will today discuss a larger-than-expected increase in crude oil production in the wake of disruptions to shipping in the Middle East caused by the U.S.-Israel war against Iran and the Iranian government’s response.
Saudi Arabia has increased oil production and exports in the past few weeks in anticipation of a U.S. attack on Iran, officials said.
The OPEC+ alliance is expected to discuss increasing production by more than 411,000 barrels per day at a meeting today (Sunday), the sources said, adding that this is significantly higher than the 137,000 barrel per day increase originally expected.
News outlets reported yesterday (Saturday) that some major oil companies and trading companies have suspended crude oil and fuel shipments through the Strait of Hormuz, amid the continued US and Israeli attacks on Iran and the Iranian government’s response.
