OPEC+ is discussing a possible increase in oil output as the ongoing conflict involving Iran continues to disrupt global energy supplies, according to sources familiar with the matter.
The war has significantly affected shipping through the Strait of Hormuz, a key route for global oil exports, limiting the ability of major producers to move crude to international markets. Gulf producers, including Saudi Arabia, United Arab Emirates, Kuwait and Iraq, are among the few with spare capacity, but logistical constraints have restricted output flows.
Sources said the group may approve a nominal production increase at an upcoming meeting to signal its readiness to stabilise markets. However, actual supply gains are expected to remain limited due to infrastructure challenges and blocked export routes.
The conflict has led to a sharp reduction in global oil supply, with estimates suggesting millions of barrels per day have been removed from the market. Prices have risen significantly in recent weeks, reflecting concerns over prolonged disruption.
Russia, another key member of the alliance, is also facing constraints on increasing output due to existing sanctions and production limitations.
No final decision has been announced, and discussions within OPEC+ are ongoing as member states assess the impact of the conflict on global energy markets.