OPEC+ has expressed growing concerns about the risks posed to the global energy supply amid escalating tensions involving the US, Israel, and Iran. During a panel meeting held on Sunday, the group discussed the significant damage caused by US attacks on oil facilities, noting that repairs are both costly and time-consuming, potentially disrupting overall oil output.
The committee emphasized the critical need to safeguard key maritime routes to maintain the uninterrupted flow of energy worldwide. In a notable development, OPEC+ is expected to approve an increase of 206,000 barrels per day (bpd) for May, continuing the rise that was also implemented in April.
However, this production boost is anticipated to be largely symbolic, as major oil producers remain constrained from raising output due to the ongoing conflict triggered by the killing of Ayatollah Khamenei in Tehran on February 28. Since that date, airstrikes have repeatedly targeted bases of Iraq’s Popular Mobilisation Forces (PMF), which have publicly condemned the US and Israel for these attacks.
Meanwhile, on Saturday, Iraqi citizens gathered peacefully at Liberation Square in Baghdad to protest against the US-Israel military operations targeting Iran. The demonstrators called for an immediate cessation of the strikes and voiced strong opposition to the prolonged US military presence in Iraq and the broader Middle East region.
