OPEC+ to add 206,000 bpd as Gulf attacks disrupt shipments
Mar 1st 2026
Eight OPEC+ producers will raise output by 206,000 barrels per day in April after attacks involving the U.S., Israel and Iran disrupted shipping through the Strait of Hormuz.
- OPEC+ announced a 206,000 barrels per day production increase for April.
- Eight members boosting output are Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman.
- The decision came after U.S. and Israeli strikes on Iran and Iran's retaliatory attacks on Israeli and U.S. military sites that raised regional tensions.
- Two vessels were attacked in the Strait of Hormuz, which carries about 15 million barrels per day or roughly 20% of global oil shipments.
- Analysts warn that disruptions to Gulf shipping could push crude and gasoline prices higher, with Rystad projecting about a $20 rise in Brent when markets reopen.