OPEC+: Opening the tap in April with an eye on Iran β Increase of 137,000 barrels per day
OPEC+ is considering a production increase of 137,000 barrels per day in April in response to rising summer demand and tensions with Iran.
OPEC+ is weighing the option of raising oil production by 137,000 barrels per day starting in April, as the organization prepares for peak summer demand amid rising prices linked to tensions between the US and Iran. This potential resumption of production increases, after a three-month hiatus, would allow Saudi Arabia and other member states, including the United Arab Emirates, to regain market share during a time when some OPEC+ members, such as Russia and Iran, are facing Western sanctions. Additionally, Saudi Arabia has activated a plan for a short-term boost in production and exports in case an American attack on Iran disrupts oil flows from the Middle East.
The possibility of this production increase is particularly significant given the current geopolitical climate, as the dynamics between the US, Iran, and OPEC+ members could influence global oil prices and market stability. The commitment of OPEC+ to adapt to market changes reflects their ongoing efforts to balance supply and demand in an uncertain global environment. Furthermore, reports from Reuters citing sources knowledgeable about the situation suggest that the eight OPEC members increased production by approximately 2.9 million barrels per day from April 2025 until the end of December of the same year, indicating ongoing adjustments to meet market needs.