OPEC+ to study larger output increase after attack on Iran: Report

Logo of OPEC

The OPEC+ will consider a larger oil production boost at a meeting of its key members scheduled for today, March 1, following the US and Israeli attack on Iran, Bloomberg reported, citing sources with knowledge of the matter.

The group had been expected to resume output hikes at a modest pace starting in April after freezing its supply-boost plan for three months, having added 137,000 barrels per day each month in the final quarter of 2025.

US President Donald Trump said on Feb. 28 that the US had launched major combat operations in Iran to prevent it from acquiring a nuclear weapon, shortly after Israel carried out airstrikes on Iran.