According to Bloomberg, OPEC+ countries are considering the possibility an even bolder increase in oil supply.
The decisions are expected to be made during a meeting of key members on Sunday after Israel carried out airstrikes on targets in Iran.
The group is led by Saudi Arabia and Russia was to resume moderate production increases from April following a three-month supply freeze, several delegates said earlier this week. Now this increase may no longer be moderate, but more decisive.
OPEC is an organization of the largest oil producers in the world. It mainly includes the countries of the Persian Gulf. As part of the OPEC+ alliance, Russia has also joined this group.
One of the members is also Iran, which was attacked on Saturday, which may result in reduced supplies of raw materials to world markets. Hence the need for other producers to increase production.
See also: The US and Israel attacked Iran. Multiple explosions in Tehran
US and Israel attack on Iran
The US and Israel launched a “preventive attack” on Iran on Saturday morning, which was confirmed by the Israeli Defense Minister. Thick smoke can be seen over Tehran, and numerous explosions occurred in the city.
Israel Katz, head of Israel's Ministry of Defense, announced that he had introduced a “state of emergency throughout the country” with immediate effect. Iran, in turn, closed its airspace.
The target of the attack was the office of the leader of Iran Ayatollah Ali Khamenei, Reuters reported on Saturday. An Iranian official told Reuters he was not in the city and was taken to a safe place.
Foreign media confirm that Israel's attack is coordinated with the actions of the United States troops, which are to conduct their own strikes against Iran.
On Saturday before 9 a.m., President Donald Trump confirmed US involvement in the attack.
