OPEC Considers Larger Oil Output Increase After U.S.-Israeli Strikes on Iran

OPEC and allied producers, including Saudi Arabia, Russia, and the UAE, are set to meet on March 1, 2026, to discuss oil output. While a modest increase of 137,000 barrels per day for April was expected to resume after a three-month pause, sources indicate a larger hike may be considered following recent U.S.-Israeli strikes on Iran. Saudi Arabia and the UAE have already raised exports in anticipation of potential supply disruptions amid rising crude prices and summer demand.