LBCI

OPEC+ agrees in principle on small oil output quota hike without UAE, sources tell Reuters

Middle East News

02-05-2026 | 07:33

Share

Share

OPEC+ agrees in principle on small oil output quota hike without UAE, sources tell Reuters

Seven OPEC+ countries have an agreement in principle to raise oil output targets by about 188,000 barrels per day in June, pressing on with plans despite the departure of the UAE, two sources familiar with OPEC+ thinking said ahead of a policy meeting on Sunday.

The output hike is largely symbolic for now, with most ?shipping through the Strait of Hormuz halted by the U.S.-Israeli war on Iran, which is causing far more disruption to the producer group's output than its agreed targets.

The increase is similar to last month's hike of 206,000 bpd minus the share of the United Arab Emirates, which in a surprise announcement this week said it would leave the group from May 1. The decision signals that OPEC+ is pressing on with a business-as-usual approach, one source said earlier.

Both sources spoke on condition of anonymity. The seven members are scheduled to meet online on Sunday.

Reuters

Middle East News

agrees

principle

small

output

quota

without

sources

Reuters

Next

UAE says air traffic back to normal after precautionary measures lifted

Two Gaza aid flotilla activists brought to Israel for questioning

Previous

Recommended For You

Trump says US 'not finished at all' with Iran

Middle East News

12:18

Trump says US 'not finished at all' with Iran

Pakistan PM calls for restraint from all warring sides during talks with Iranian minister

10:35

Pakistan PM calls for restraint from all warring sides during talks with Iranian minister

Houthis warn shipping companies to avoid Saudi ports

Middle East News

09:42

Houthis warn shipping companies to avoid Saudi ports

UN condemns intensifying Israeli military attacks in Gaza

Middle East News

07:23

UN condemns intensifying Israeli military attacks in Gaza

Subscribe to our VOD

SUBSCRIBE

Our visitors readings

Sources to LBCI: Lebanese Army continues deployment in Zawtar El Gharbiyeh despite Israeli gunfire

08:41

Sources to LBCI: Lebanese Army continues deployment in Zawtar El Gharbiyeh despite Israeli gunfire

Lebanon seeks clearer path with Syria amid shifting regional dynamics

News Bulletin Reports

2026-05-10

Lebanon seeks clearer path with Syria amid shifting regional dynamics

Israel's dilemma in Lebanon: Escalate or wait for Washington

News Bulletin Reports

2026-06-05

Israel's dilemma in Lebanon: Escalate or wait for Washington

Parliamentary elections clock ticks: Lebanon continues to face diaspora vote dispute

News Bulletin Reports

2026-02-27

Parliamentary elections clock ticks: Lebanon continues to face diaspora vote dispute

Videos

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

2026-07-20

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

2026-06-26

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

2026-06-26

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

2026-06-26

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

2026-06-20

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

Massive Israeli strikes hit South Lebanon under ceasefire conditions

2026-06-19

Massive Israeli strikes hit South Lebanon under ceasefire conditions

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

2026-06-16

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

Rene Mouawad Airport in Qlayaat opening ceremony held in presence of Lebanese officials—Video

2026-06-06

Rene Mouawad Airport in Qlayaat opening ceremony held in presence of Lebanese officials—Video

Israeli army releases footage of first tank crossing Litani River toward Beaufort Castle

2026-05-31

Israeli army releases footage of first tank crossing Litani River toward Beaufort Castle

Most read

24 hours

7 days

Month

Trump says US working to resolve Hezbollah issue, signals support for Lebanese Army

1

Trump says US working to resolve Hezbollah issue, signals support for Lebanese Army

Trump authorizes resumption of direct US flights to Lebanon after meeting with Aoun

2

Trump authorizes resumption of direct US flights to Lebanon after meeting with Aoun

Lebanese army deploys in southern town after Israeli withdrawal

3

Lebanese army deploys in southern town after Israeli withdrawal

Lebanese Army begins deployment in Zawtar as residents await return home

4

Lebanese Army begins deployment in Zawtar as residents await return home

Sources to LBCI: Lebanese Army continues deployment in Zawtar El Gharbiyeh despite Israeli gunfire

5

Sources to LBCI: Lebanese Army continues deployment in Zawtar El Gharbiyeh despite Israeli gunfire

UN condemns intensifying Israeli military attacks in Gaza

6

UN condemns intensifying Israeli military attacks in Gaza

Pakistan PM calls for restraint from all warring sides during talks with Iranian minister

7

Pakistan PM calls for restraint from all warring sides during talks with Iranian minister

Trump says US 'not finished at all' with Iran

8

Trump says US 'not finished at all' with Iran

Download now the LBCI mobile app

To see the latest news, the latest daily programs in Lebanon and the world

Google Play

App Store

Download now the LBCI mobile app

We use
cookies

We use cookies to make
your experience on this
website better.

Accept

Learn More