The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, on Sunday decided to increase oil output by 206,000 barrels per day in May, according to an OPEC statement.
The decision was announced following a virtual meeting attended by Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, which reviewed global market conditions and outlook.
Amid the ongoing military conflict in the Middle East, the eight OPEC+ countries underscored the critical importance of safeguarding international maritime routes to ensure the free flow of energy supplies.
The eight countries also expressed concern over attacks on energy infrastructure, which harmed the overall supply availability. They stressed that it is both costly and takes a long time to restore damaged energy assets to full capacity.
They are scheduled to meet again on May 3 to make further decisions.
Since the U.S.-Israeli strikes on Iran beginning Feb 28, the conflict in the Middle East has severely disrupted regional energy flows, with crude oil and refined product shipments declining significantly.
OPEC+ to ramp up oil output in May amid global energy crisis
U.S. President Donald Trump posted "Tuesday, 8:00 p.m. Eastern Time!" on social media on Sunday, a message that appeared to signal a possible extension of the deadline for Iran to reopen the Strait of Hormuz.
On March 21, Trump threatened to hit and obliterate Iranian power plants if the country fails to fully open the strait within 48 hours. Two days later, he postponed strikes on power plants for five days, claiming to have held productive conversations with Iran.
On March 26, Trump again pushed the deadline back, saying that he will pause planned strikes on Iranian energy facilities for 10 days, to April 6, the upcoming Monday at 20:00 Eastern Time. On Saturday, Trump reaffirmed that Iran has 48 hours to strike a deal on opening up the strait or face "Hell."
However, in the post on Sunday, Trump appeared to hint at extending the deadline for Iran to reopen the strait for another time.
In a post earlier Sunday, the U.S. president threatened that Tuesday would be "Power Plant Day, and Bridge Day, all wrapped up in one" for Iran, and again urged Iran to open the Strait of Hormuz.
Despite the threats, Trump said on Sunday that he believes a deal can be reached before the deadline, adding that Iran is currently negotiating. If Iran refuses, he said he is considering bombing everything and seizing Iran's oil.
Ali Abdollahi, chief commander of Iran's Khatam al-Anbiya Central Headquarters, responded Saturday that the Iranian armed forces would not hesitate for a moment to defend the country's rights and protect national assets and will put the aggressors in their place.
Trump also claimed that earlier this year, the U.S. sent weapons to Iranian protesters through the Kurds, though he believes the Kurds took them.
He also said he was very satisfied with a recent operation to rescue the pilot of a U.S. fighter jet that was shot down in Iranian airspace. He said Israel had assisted with the rescue, describing the bilateral relationship as big brother and little brother.
Trump hints at extending deadline for Iran to reopen Strait of Hormuz
Trump hints at extending deadline for Iran to reopen Strait of Hormuz
