Source: Reuters
“OPEC+ has agreed in principle to a modest oil output increase on Sunday, five OPEC+ sources said, after the U.S.-Israeli war on OPEC+ member Iran and Tehran’s retaliation led to shipment disruptions in the Middle East. OPEC+ has a history of raising oil output to cushion disruptions but analysts said the group currently has little spare capacity to add to supply, except for its leader Saudi Arabia and the United Arab Emirates, who will also struggle to export oil until navigation in the Gulf returns to normal.” (03/01/26)