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OPEC+ Considers Increasing Oil Production Amid Hormuz Strait Crisis

April 5, 2026اقتصاد – الشروق أونلاينechoroukonline.comTranslated from Arabic
OPEC+ Considers Increasing Oil Production Amid Hormuz Strait Crisis

Four sources from the OPEC+ alliance, which includes the Organization of the Petroleum Exporting Countries and its allies, reported that the alliance may approve an increase in oil production today, Sunday, but it will likely be 'theoretical' only, as major member countries are unable to raise production due to the American-Zionist war on Iran, according to Reuters. Reuters noted that the conflict has effectively closed the Hormuz Strait since the end of February, which is the most important global oil export route, leading to the largest supply disruption ever, with global production declining by between 12 and 15 million barrels per day, or about 15% of global supplies. Read the full content on Echourouk Online.

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