Amid increasing uncertainty in the global oil market after the US-Israel attack on Iran, the OPEC+ group may consider increasing oil production more than planned. According to sources associated with the talks, major oil producing countries have already started taking precautionary measures in view of the possible supply disruption.
Market’s hopes hinge on Sunday’s meeting
An important meeting of the eight major members of the Organization of Oil Exporting Countries (OPEC) and its allied countries, OPEC+, Saudi Arabia, Russia, UAE, Kazakhstan, Kuwait, Iraq, Algeria and Oman is going to be held on Sunday. Earlier it was estimated that the group would agree to increase production by 1.37 lakh barrels per day from April, but due to the current geopolitical tension, a bigger increase than this may also be discussed.
Threat to supply due to Iran crisis
Experts say that the attack on Iran has increased the risk of oil supply disruption in the Middle East. Due to this apprehension, the price of crude oil was already rising. The market fears that if regional tensions increase, global energy supply may be affected, which may lead to a further rise in prices.
Saudi Arabia and UAE increased exports
According to sources, Saudi Arabia and United Arab Emirates (UAE) have already started increasing oil production and exports in view of the possible crisis. Abu Dhabi is preparing to increase exports of its key Murban crude in April. This is being seen as a strategy to keep the market stable.
Increase possible after three months break
OPEC+ countries had increased production quotas by about 29 lakh barrels per day between April and December 2025, but the production increase was stopped from January to March 2026 due to weak seasonal demand. A possible hike in April could be the end of this three-month pause.
Analysts believe that the upcoming decision can decide not only oil prices but also the direction of global inflation and economic policies. At present, markets around the world are waiting for the next step of OPEC+.