OPEC+ debates oil output boost as war disrupts shipments | Sri Lanka News

OPEC+ will consider a larger-than-expected oil output increase on Sunday, two OPEC+ sources said after the U.S.-Israeli war on OPEC+ member Iran and Tehran’s retaliation led to shipment disruptions in the Middle East.

OPEC+ has a history of raising oil output to cushion disruptions but analysts said the group currently has very little spare capacity to meaningfully add to supply, except for its leader Saudi Arabia and the United Arab Emirates.

Riyadh has been raising oil production and exports in recent weeks in preparation for U.S….