LBCI

OPEC+ hikes oil production by more than expected following outbreak of Iran war

World News

01-03-2026 | 08:04

Share

Share

OPEC+ hikes oil production by more than expected following outbreak of Iran war

OPEC+ announced a greater-than-expected increase to the cartel's oil production quotas on Sunday, after U.S. 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," the cartel said in a statement, which did not mention the outbreak of the Iran conflict but cited "a steady global economic outlook and current healthy market fundamentals" as reasons for the increase.

AFP

World News

OPEC

Oil

United States

Iran

Strikes

Middle East

Next

Three US military members killed in Iran operation: Pentagon

Eight killed in pro-Iran protest at US consulate in Pakistan: rescue service

Previous

Recommended For You

Pope says he regrets his remarks interpreted as a debate with Trump

10:06

Pope says he regrets his remarks interpreted as a debate with Trump

Trump says Iran cannot 'blackmail us' with Strait of Hormuz

10:01

Trump says Iran cannot 'blackmail us' with Strait of Hormuz

Trump says China's Xi is 'very happy' about Strait of Hormuz reopening

02:02

Trump says China's Xi is 'very happy' about Strait of Hormuz reopening

Trump says he has 'good news' on Iran, no clarity on peace deal

Middle East News

01:07

Trump says he has 'good news' on Iran, no clarity on peace deal

Subscribe to our VOD

SUBSCRIBE

Our visitors readings

No date set for next round of Iran-US talks: Iran deputy FM

Middle East News

07:17

No date set for next round of Iran-US talks: Iran deputy FM

Adnoc CEO: Strait of Hormuz has never belonged to Iran to close

Middle East News

2026-04-12

Adnoc CEO: Strait of Hormuz has never belonged to Iran to close

Israeli army issues evacuation warning for building near Ziad Rahbani Avenue in Beirut’s southern suburbs

2026-03-31

Israeli army issues evacuation warning for building near Ziad Rahbani Avenue in Beirut’s southern suburbs

Netanyahu arrives at White House for Trump talks on Iran: AFP

2026-02-11

Netanyahu arrives at White House for Trump talks on Iran: AFP

Videos

Iran uses cluster bombs to target Israel: AiTelly explains what happens when a missile is intercepted—Video

2026-03-25

Iran uses cluster bombs to target Israel: AiTelly explains what happens when a missile is intercepted—Video

At least 19 killed after strike destroys three-story building in Sir el-Gharbiyeh: Video

2026-03-08

At least 19 killed after strike destroys three-story building in Sir el-Gharbiyeh: Video

Israeli airstrike targets Beirut’s southern suburbs: Video

2026-03-06

Israeli airstrike targets Beirut’s southern suburbs: Video

Intense consecutive airstrikes hit Beirut’s southern suburbs: Video

2026-03-05

Intense consecutive airstrikes hit Beirut’s southern suburbs: Video

Israeli army launches evening airstrikes on Beirut’s southern suburbs after evacuation warning

2026-03-05

Israeli army launches evening airstrikes on Beirut’s southern suburbs after evacuation warning

Smoke rises over Beirut’s southern suburbs as Israel targets area: Video

2026-03-02

Smoke rises over Beirut’s southern suburbs as Israel targets area: Video

German President Steinmeier meets Lebanon's President Aoun at Baabda Palace—Video

2026-02-16

German President Steinmeier meets Lebanon's President Aoun at Baabda Palace—Video

Future Movement supporters mark Rafic Hariri anniversary, call for Saad Hariri's return to politics

2026-02-14

Future Movement supporters mark Rafic Hariri anniversary, call for Saad Hariri's return to politics

Israel strikes vehicle in Doueir-Wadi Aaba in South Lebanon—Video

2026-02-01

Israel strikes vehicle in Doueir-Wadi Aaba in South Lebanon—Video

Most read

24 hours

7 days

Month

Ceasefire under fire: Israel adapts "yellow line" strategy in South Lebanon

1

Ceasefire under fire: Israel adapts "yellow line" strategy in South Lebanon

Israeli army says established 'Yellow Line' in Lebanon, as in Gaza

2

Israeli army says established 'Yellow Line' in Lebanon, as in Gaza

UNIFIL statement: One peacekeeper killed in South Lebanon likely by 'non-state actors'

3

UNIFIL statement: One peacekeeper killed in South Lebanon likely by 'non-state actors'

Hezbollah denies involvement in deadly attack on UN peacekeepers

4

Hezbollah denies involvement in deadly attack on UN peacekeepers

Lebanon PM condemns attack on French UNIFIL troops on Saturday

5

Lebanon PM condemns attack on French UNIFIL troops on Saturday

Civil Defense and Lebanese Army organize return of southern residents as leaflets warn of landmine risks

6

Civil Defense and Lebanese Army organize return of southern residents as leaflets warn of landmine risks

Naim Qassem: Hezbollah remains open to maximum cooperation with state authorities

7

Naim Qassem: Hezbollah remains open to maximum cooperation with state authorities

Iran command says has closed Hormuz again over US blockade

8

Iran command says has closed Hormuz again over US blockade

Download now the LBCI mobile app

To see the latest news, the latest daily programs in Lebanon and the world

Google Play

App Store

Download now the LBCI mobile app

We use
cookies

We use cookies to make
your experience on this
website better.

Accept

Learn More