London, March 1, 2026 (AFP) - OPEC+ hikes oil production by more than expected following outbreak of Iran war

NAMPA / AFP

2026-03-01

OPEC+ announced a greater-than-expected increase to the cartel's oil production quotas on Sunday, after US and Israeli strikes on Tehran triggered Iranian retaliation across the Middle East. The group, which includes key oil producers Saudi Arabia and Russia -- as well as several Gulf states bearing the brunt of Tehran's strikes -- "agreed on a production adjustment of 206 thousand barrels per day". "This adjustment will be implemented in April,......

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