OPEC+ has decided to increase oil production, but the increase will only take effect after the reopening of the Strait of Hormuz.

The OPEC+ alliance agreed on Sunday to increase oil production quotas by 206,000 barrels per day in May, a decision that, although symbolic, is affected by the conflict between the USA and Israel against Iran, which has led to the blockage of the Strait of Hormuz. This essential route for oil transport has significantly reduced exports from OPEC+ countries, such as Saudi Arabia and Iraq.

Although the increase of 206,000 barrels per day represents less than 2% of the amount removed from the market, it signals OPEC+'s intention to increase production once the situation stabilizes. Expert Jorge Leon emphasized that, under current conditions, the increase is "purely theoretical" and will not significantly add to the oil supply. Additionally, Western sanctions and infrastructure damage in Russia further complicate the situation.

The OPEC+ Joint Ministerial Monitoring Committee expressed concern about attacks on energy infrastructure, which affect global supply. Iran stated that Iraq is exempt from restrictions in transit through the Strait of Hormuz, but it remains uncertain whether other ships will risk crossing the area. The current disruption of supply is considered the largest in history, with estimates of 12-15 million barrels per day removed from the market.