OPEC+ hikes oil production to 206,000 barrels per day as Iran eyes Bab el-Mandeb
- Posted on April 6, 2026
- By Financial Express
- 0 Views
In brief
OPEC+ has increased crude oil production by 206,000 barrels daily, responding to market demands amid geopolitical tensions. With Iran's strategic position near the Bab el-Mandeb strait, global oil prices have climbed to four-year peaks approaching $120 per barrel. This production adjustment reflects ongoing concerns about supply chain stability and transport fuel costs worldwide, influencing energy markets and consumer expenses across multiple sectors.
OPEC+ hikes oil production to 206,000 barrels per day as Iran eyes Bab el-Mandeb
Crude prices have surged to a four-year high amid the war, close to $120 a barrel, leading to higher prices for transport fuels, Al Jazeera reported.
