Categories: Energy

OPEC+ mulls oil output boost as Israel-Iran war disrupts shipments

OPEC+ will consider a larger-than-expected oil output increase on Sunday, March 1, 2026, sources have disclosed

The grouping has a history of raising oil output to cushion disruptions.

But analysts told Reuters the group currently has very little spare capacity to meaningfully add to supply, except for its leader Saudi Arabia and the United Arab Emirates (UAE).

Israel strikes Tehran after killing Khamenei

Oil prices jumped on Friday to $73 per barrel, the highest level since July, on fears of a wider conflict.

The meeting on Sunday will start at 1100 GMT and will involve only eight members of OPEC+ – Saudi Arabia, Russia, the UAE, Kazakhstan, Kuwait, Iraq, Algeria, and Oman.

The Star

Segun Ojo

Recent Posts

Kaduna pensioners hail Uba Sani over N4.289bn gratuity payment

The Kaduna State Chapter of the Nigeria Union of Pensioners has praised Governor Uba Sani…

25 minutes ago

DSS arraigns El-Rufai on 5-count amended charge

The Department of State Services (DSS) on Thursday arraigned former Kaduna State Governor Nasir El-Rufai…

36 minutes ago

Missing LASU student found in Ekiti after one week

A 17-year-old Lagos State University student, Eniola Ogunsiji, who had been reported missing for about…

1 hour ago

Kidnappers release UNIJOS student after collecting N6m ransom

A University of Jos student, John Arum Azi, has regained his freedom after his family…

2 hours ago

Nigeria faces deficit of 200,000 teachers as college enrolment drops — NCCE

Nigeria is grappling with a shortage of nearly 200,000 qualified teachers at the basic education…

2 hours ago

NELFUND alerts students to fake loan registration portal

The Nigerian Education Loan Fund (NELFUND) has cautioned students and the general public against fraudulent…

3 hours ago

This website uses cookies.