OPEC+ boosts April crude oil supply

Shafaq News- Vienna

The Organization of the Petroleum Exporting Countries (OPEC+) will raise
April’s oil production by about 206,000 barrels per day (bpd), continuing
supply increases as Middle East tensions linked to the US-Israeli war on Iran
raise concerns over global crude flows.

According to a Sunday Bloomberg report, the move follows a decision by
key producers, including Saudi Arabia and Russia, to resume output increases
after holding back hikes during the first quarter. The planned rise surpasses
the 137,000 bpd monthly increases introduced late last year.

By the end of 2025, OPEC+, which accounts for about 40% of the world’s
crude supply, suspended planned increases for February and March 2026 due to
seasonal demand patterns, maintaining flexibility to pause, continue, or
reverse the gradual unwinding depending on market conditions.

The production increase comes as rising tensions in the Middle East
drive oil prices higher, with markets closely monitoring the Strait of Hormuz,
a critical route for global crude shipments, which Iran recently closed in
response to the joint US-Israeli war on Tehran.

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