Logo of OPEC
Eight OPEC+ member countries have agreed in principle to raise oil production by 206,000 barrels per day (bpd), Reuters reported, citing sources in the know. 
Reuters had earlier reported that OPEC+ would discuss increasing oil output by more than expected after the US-Israeli war on Iran and Tehran’s response led to disruptions in shipments in the Middle East region.
According to data available with Argaam, the US and Israel launched their military operations against Iran on Feb. 28, carrying out air and naval missile strikes on facilities and targets inside Iran.
In response, Iran launched multi-directional attacks on Israeli bases and targets, as well as on sites in Gulf countries.
Reuters also reported that some major oil and trade companies have suspended crude oil and fuel shipments through the Strait of Hormuz amid the ongoing US and Israeli attacks on Iran and Tehran’s retaliatory strikes.
Logo of OPEC
Eight OPEC+ member countries have agreed in principle to raise oil production by 206,000 barrels per day (bpd), Reuters reported, citing sources in the know.
Reuters had earlier reported that OPEC+ would discuss increasing oil output by more than expected after the US-Israeli war on Iran and Tehran’s response led to disruptions in shipments in the Middle East region.
According to data available with Argaam, the US and Israel launched their military operations against Iran on Feb. 28, carrying out air and naval missile strikes on facilities and targets inside Iran.
In response, Iran launched multi-directional attacks on Israeli bases and targets, as well as on sites in Gulf countries.
Reuters also reported that some major oil and trade companies have suspended crude oil and fuel shipments through the Strait of Hormuz amid the ongoing US and Israeli attacks on Iran and Tehran’s retaliatory strikes.
