Israel’s sudden attack on Iran has threatened to disrupt oil supplies in the Middle East, placing the Opec+ cartel’s recent decision to increase crude production into the spotlight.
The Saudi Arabia-led producer group has surprised the oil market this year by fast-tracking the return of idled production even as crude prices fell. It has prompted speculation that the cartel was responding to White House pressure to boost output ahead of a confrontation with Iran.
The US had held several rounds of nuclear talks with Iran, but President Donald Trump had also warned he would consider military options if diplomacy failed, while Israel had openly pushed for strikes.
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