OPEC+ is proceeding with its planned 206,000 barrel per day April output increase despite the ongoing Iran conflict, maintaining the gradual unwinding of prior production cuts.
Saudi Arabia has restored full capacity on the East-West Pipeline after repairs following drone strikes on April 8 damaged the Hormuz-bypass route. The pipeline provides 5 million bpd of capacity to Red Sea export facilities.
No emergency OPEC+ meeting has been called despite market volatility. Saudi Arabia, UAE, Kuwait, and Iraq are maintaining compliance with existing quotas.
The group will monitor for potential policy shifts if the April 22 ceasefire deadline passes without resolution.