OPEC+ on Sunday agreed to increase oil production quotas for the second consecutive month, while cautioning that damage to energy infrastructure amid ongoing conflicts could disrupt global supplies for an extended period, AFP reported.The oil cartel decided to raise output quotas by 206,000 barrels per day (bpd) from May, with key producers including Russia, Saudi Arabia and several Gulf nations backing the move.However, OPEC+ warned that repairing energy facilities damaged in conflict zones is “costly and takes a long time”, adding that such disruptions could heighten volatility in global oil markets.The group also stressed “the critical importance of safeguarding international maritime routes to ensure the uninterrupted flow of energy”.While the statement did not directly mention the Iran war, the ongoing conflict has significantly impacted global energy markets and contributed to a sharp rise in oil prices.Since February 28, when the United States and Israel launched strikes on Iran, Tehran has retaliated by targeting locations across the region, including key energy infrastructure.Iran has also effectively halted shipping through the Strait of Hormuz by threatening to attack tankers passing without permission, severely restricting exports from the Gulf region.Before the conflict, nearly one-fifth of global oil and liquefied natural gas (LNG) shipments passed through the Strait, making it a critical artery for global energy trade.The disruption has raised concerns over whether increased production by OPEC+ members can translate into actual supply reaching global markets.Meanwhile, Ukraine has also been targeting Russian oil facilities as part of its ongoing conflict with Moscow, further complicating global supply dynamics.Last month, the eight-member Voluntary Eight (V8) group within OPEC+ had also raised production quotas by 206,000 bpd.In its statement, the V8 warned that “any actions undermining energy supply security, whether through attacks on infrastructure or disruption of international maritime routes, increase market volatility” and complicate efforts to manage global oil prices.The group — comprising Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman–also acknowledged members that managed to find alternative export routes, noting that such efforts have helped reduce market volatility.
