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OPEC Confirms Big Saudi Oil Production Hike Ahead of Iran War, Holds Forecasts Steady

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By Alex Lawler Saudi Arabia increased production as contingency for Iran attack disruption, sources said OPEC says geopolitical developments need close monitoring, no forecast changes yet IEA to update oil forecasts on Thursday LONDON, March 11 (Reuters) – OPEC said on Wednesday that Saudi Arabia sharply increased oil production in February ahead of U.S. and …

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Saudi Aramco Reducing Output at Two Oilfields, Two Sources Say

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(Reuters) – Saudi oil giant Aramco has begun cutting output at two of its oilfields, two sources said on Monday, after the vital Strait of Hormuz was choked by the U.S.-Israeli war on Iran and subsequent attacks on the waterway. It was not immediately clear at which fields and by how much production was being …

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Aramco Explores Oil Exports Via Red Sea to Avoid Hormuz

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Saudi Arabia produces about 10 million barrels a day of crude, with exports rising to about 7.2 million a day last month By Serene Cheong, Yongchang Chin, Salma El Wardany and Rakesh Sharma Saudi Aramco is exploring the option of delivering more cargoes to Yanbu, a port on the Red Sea that’s situated outside the …

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OPEC+ Agrees to Modest Oil Output Boost Even as US War on Iran Disrupts Shipments

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Summary OPEC+ agrees to raise output by 206,000 bpd US attacks on Iran kill Khamenei, Gulf oil flows disrupted Saudi Arabia and UAE have already raised exports, sources say OPEC has little spare production capacity, analysts say Hormuz needs to reopen for oil to reach markets, analysts say (Reuters) – OPEC+ agreed a modest oil …

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Geopolitical Turmoil Gives OPEC+ Cover for Cautious Output Hike

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Ron Bousso LONDON, Feb 26 (Reuters) – OPEC+ meets on Sunday to set its next production move amid heightened geopolitical friction affecting nearly a third of its output. That volatility may give the group cover to stick to its balanced-market narrative, even if the facts on the ground suggest otherwise. The group, which comprises the Organization of …

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OPEC+ to Consider 137,000 bpd Oil Output Increase for April, Sources Say

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(Reuters) – OPEC+ is likely to consider raising its oil output by 137,000 barrels per day for April, three sources with knowledge of OPEC+ thinking said as the group prepares for peak summer demand and a price boost from tensions between the U.S. and OPEC member Iran. The resumption of output increases after a three-month …

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Saudi Arabia Boosts Oil Output, Exports for US Attack on Iran Contingency, Sources Say

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(Reuters) – Saudi Arabia is increasing its oil production and exports as part of a contingency plan in case any U.S. strike on Iran disrupts supplies from the Middle East, two sources familiar with the plan said on Wednesday. The Saudi government media office did not immediately respond to a request for comment on the …

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Saudi Arabia Crude Exports Fall to Three Month Low in December

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(Reuters) – Crude oil exports from the world’s largest oil exporter fell to 6.988 million barrels per day, down from 7.378 million bpd in November and its lowest since September, data from the Joint Organizations Data Initiative showed on Thursday. Saudi Arabia’s crude output stood at about 10.084 million bpd in December, its highest since …

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OPEC+ Leans Towards Resumption in Oil Output Increases From April, Sources Say

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By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler Eight OPEC+ members meet on March 1 OPEC+ has paused increases for first quarter of 2026 Brent crude price near highest since August Russia’s Novak predicts increased demand from March-April MOSCOW/LONDON, Feb 13 (Reuters) – OPEC+ is leaning towards a resumption in oil output increases from April, …

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