OPEC+ Panel, Concerned With Energy Supplies, Raises May Production Quotas -- WSJ

Dow Jones04-05

By Summer Said

An OPEC+ panel, a group of major oil-producing nations, expressed concerns Sunday that attacks on energy facilities will affect global energy supplies and warned that repairs would be costly and time consuming.

"Any actions undermining energy supply security, whether through attacks on infrastructure or disruption of international maritime routes, increase market volatility," the Joint Ministerial Monitoring Committee, or JMMC, said Sunday. The group comprises Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Nigeria, Algeria and Venezuela.

OPEC+ also agreed to raise its oil production quotas by 206,000 barrels a day for the month of May, the second consecutive month of increases. The impact of the increase would likely be limited because of the blockade of the Strait of Hormuz.

The JMMC's next meeting will be held on June 7, but the panel said it will continue to closely monitor market conditions and can convene additional meetings or request an Organization of the Petroleum Exporting Countries and non-OPEC ministerial meeting if needed.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

April 05, 2026 10:43 ET (14:43 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The group comprises Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Nigeria, Algeria and Venezuela. \n</p>\n<p>\n     OPEC+ also agreed to raise its oil production quotas by 206,000 barrels a day for the month of May, the second consecutive month of increases. The impact of the increase would likely be limited because of the blockade of the Strait of Hormuz. \n</p>\n<p>\n     The JMMC's next meeting will be held on June 7, but the panel said it will continue to closely monitor market conditions and can convene additional meetings or request an Organization of the Petroleum Exporting Countries and non-OPEC ministerial meeting if needed. \n</p>\n<p>\n       This item is part of a Wall Street Journal live coverage event. 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