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AzerNEWS Staff

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The OPEC+ alliance agreed to raise oil production by 206,000 barrels a day starting in May, as key producers weigh rising geopolitical risks in the Middle East against the need to stabilise global energy markets.

The decision was reached during a virtual meeting involving leading members including Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, according to an official statement.

Delegates assessed current conditions in global energy markets and reviewed forward-looking supply and demand projections, with particular attention to escalating tensions involving the US, Israel and Iran. The alliance signalled that the output increase is calibrated to address potential supply disruptions without triggering excessive volatility in crude prices.

In its statement, OPEC+ underscored the strategic importance of safeguarding international maritime routes to ensure uninterrupted energy flows, a reference widely seen as linked to risks around critical chokepoints such as the Strait of Hormuz.

The move reflects the group’s ongoing effort to balance market stability with geopolitical uncertainty, as traders monitor whether Middle East tensions could translate into tangible disruptions to global oil supply chains.