{"id":12950,"date":"2026-06-07T13:22:09","date_gmt":"2026-06-07T13:22:09","guid":{"rendered":"https:\/\/8657085.xyz\/?p=12950"},"modified":"2026-06-07T13:22:09","modified_gmt":"2026-06-07T13:22:09","slug":"as-opec-meets-iran-war-hobbles-power-to-shape-oil-market","status":"publish","type":"post","link":"https:\/\/8657085.xyz\/?p=12950","title":{"rendered":"As OPEC+ meets, Iran war hobbles power to shape oil market"},"content":{"rendered":"<p> <div style=\"display: grid; grid-template-columns: 300px 160px; gap: 2px; width: 460px; background: #eee; padding: 2px;\">\r\n\r\n  <!-- \u6574\u884c\u5bbd\u5e7f\u544a -->\r\n  <div style=\"grid-column: 1\/-1; width: 460px; height: 250px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876674\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n  <div style=\"grid-column: 1\/-1; width: 460px; height: 90px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876676\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n\r\n  <!-- \u5de6\u4fa7\u7ad6\u6392 -->\r\n  <div style=\"height: 250px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876672\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n  <div style=\"height: 500px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876680\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n\r\n  <!-- \u53f3\u4fa7\u6469\u5929\u697c\uff08\u548c\u5de6\u4fa7\u5b8c\u5168\u5bf9\u9f50\uff09 -->\r\n  <div style=\"grid-row: 3\/5; height: 750px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876678\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n  \r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e6\" data-zoneid=\"5876682\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n<\/div><br \/>\n<\/p>\n<div style=\"padding-right:0;padding-left:0\">\n<p>OPEC+ ministers meet Sunday to weigh higher production quotas in a bid to cap oil prices that have surged since the Iran war effectively choked off Gulf crude shipments.<\/p>\n<p>But even if the cartel members vow to ramp up output by thousands of barrels per day, analysts say geopolitical realities mean they probably won\u2019t move the needle on prices.<\/p>\n<p>With the crucial Strait of Hormuz shut since US and Israeli attacks on Iran in late February, oil prices have nearly doubled, igniting inflation pressures worldwide.<\/p>\n<p>Ministers from the 21 member states of OPEC+, the main oil producing nations and their allies,\u00a0are holding their quarterly meeting online.<\/p>\n<p>The group is likely to beef up its production quotas by \u201c188,000 barrels a day\u201d, said Jorge Leon, analyst at Rystad Energy, similar to recent increases.\u00a0<\/p>\n<p>But in reality, only seven members \u2014 Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman \u2014 have the capacity to do so.<\/p>\n<p>\u2013 Dwindling supply \u2013<\/p>\n<p>Tehran\u2019s threats of retaliatory attacks to US and Israeli strikes have virtually blocked the vital Strait of\u00a0Hormuz,\u00a0through which roughly a fifth of global\u00a0oil and gas\u00a0supplies normally pass.<\/p>\n<p>That is equivalent to about 20 million barrels a day.\u00a0<\/p>\n<p>But with key Gulf producers shut out of the global market, pledges to raise output in a bid to ease spiralling prices are unlikely to sway traders.\u00a0<\/p>\n<p>\u201cAny announced production increases or changes to output targets will have limited practical value,\u201d\u00a0said Ole Hansen, a commodities analyst at Saxo Bank.<\/p>\n<p>\u201cThere is very little OPEC can do,\u201d he told AFP.<\/p>\n<p>OPEC+ itself says daily production has plummeted to just 33 million barrels a day as tankers remain stuck, compared to nearly 43 million before the conflict.<\/p>\n<p>A US blockade on Iranian ports means \u201cit will be even less than that\u201d in reality, said Homayoun Falakshahi, head of crude oil analysis at data firm Kpler.<\/p>\n<p>\u2013 UAE slams the door \u2013<\/p>\n<p>The United Arab Emirates\u2019 recent decision to quit OPEC further saps away at the cartel\u2019s influence, given its huge excess production capacity.<\/p>\n<p>And Abu Dhabi has made clear it wants to boost output.<\/p>\n<p>\u201cThey don\u2019t want to be dictated to, they want to maximise their revenues,\u201d said Lawrence Haar, a lecturer in finance at the University of Brighton in England.\u00a0<\/p>\n<p>And the cartel risks seeing other countries follow the UAE\u2019s example.<\/p>\n<p>\u201cIf Iraq were to leave, it could mark the end of OPEC+,\u201d Falakshahi said.<\/p>\n<p>Saudi Arabia, by far the cartel\u2019s most influential member, \u201cis going to do what it takes to stop anyone else from leaving,\u201d Falakshahi predicted.<\/p>\n<p>That could translate into more flexible output quotas or decreased penalties for any excess production.<\/p>\n<p>But \u201cfor now, the compensation framework has effectively become irrelevant due to widespread production shut-ins,\u201d Hansen said.<\/p>\n<p>As a result, the Iran war has largely neutralised the cartel\u2019s stated mission \u201cto secure an efficient, economic and regular supply of petroleum to consumers, and a steady income to producers\u201d.\u00a0<\/p>\n<p>For Falakshahi, the only factor limiting further oil price spikes at the moment is China, \u201cwhich is buying less oil than normal\u201d by tapping into its vast strategic reserves.<\/p>\n<\/div>\n<p><!-- \u603b\u5bb9\u5668\uff1a\u6700\u5927\u5bbd908px Grid\u7d27\u51d1\u5e03\u5c40 -->\r\n<div style=\"display: grid; 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display:grid; place-items:center;\">\r\n\t\r\n<!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114303\" data-width=\"125\" data-height=\"125\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114303});<\/script>\r\n<!--JuicyAds END-->\r\n\t<\/div>\r\n  <\/div>\r\n\r\n  <!-- \u53f3\u4fa7\u7ad6\u680f\uff1a160\u00d7600 \u6574\u5217\u9ad8\u5e7f\u544a -->\r\n  <div style=\"grid-row:3\/8; height:600px;  display:grid; place-items:center;\">\r\n    <!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114301\" data-width=\"160\" data-height=\"600\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114301});<\/script>\r\n<!--JuicyAds END-->\r\n  <\/div>\r\n\r\n<\/div><br \/>\n<br \/> As OPEC+ meets, Iran war hobbles power to shape oil market<br \/>\n<br \/>#OPEC #meets #Iran #war #hobbles #power #shape #oil #market<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OPEC+ ministers meet Sunday to weigh higher production quotas in a bid to cap oil&#8230;<\/p>\n","protected":false},"author":1,"featured_media":12951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[12010,318,90,2132,396,7971,168,7642,340],"class_list":["post-12950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stories","tag-hobbles","tag-iran","tag-market","tag-meets","tag-oil","tag-opec","tag-power","tag-shape","tag-war"],"featured_image_urls":{"full":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/06\/0e80a10ef81665d6639651ad6eceea8267ef92b2.jpg",768,511,false],"thumbnail":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/06\/0e80a10ef81665d6639651ad6eceea8267ef92b2-150x150.jpg",150,150,true],"medium":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/06\/0e80a10ef81665d6639651ad6eceea8267ef92b2-300x200.jpg",300,200,true],"medium_large":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/06\/0e80a10ef81665d6639651ad6eceea8267ef92b2.jpg",640,426,false],"large":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/06\/0e80a10ef81665d6639651ad6eceea8267ef92b2.jpg",640,426,false],"1536x1536":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/06\/0e80a10ef81665d6639651ad6eceea8267ef92b2.jpg",768,511,false],"2048x2048":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/06\/0e80a10ef81665d6639651ad6eceea8267ef92b2.jpg",768,511,false],"covernews-slider-full":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/06\/0e80a10ef81665d6639651ad6eceea8267ef92b2.jpg",768,511,false],"covernews-slider-center":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/06\/0e80a10ef81665d6639651ad6eceea8267ef92b2-768x500.jpg",768,500,true],"covernews-featured":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/06\/0e80a10ef81665d6639651ad6eceea8267ef92b2.jpg",768,511,false],"covernews-medium":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/06\/0e80a10ef81665d6639651ad6eceea8267ef92b2-540x340.jpg",540,340,true],"covernews-medium-square":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/06\/0e80a10ef81665d6639651ad6eceea8267ef92b2-400x250.jpg",400,250,true]},"author_info":{"display_name":"admin","author_link":"https:\/\/8657085.xyz\/?author=1"},"category_info":"<a href=\"https:\/\/8657085.xyz\/?cat=7\" rel=\"category\">Stories<\/a>","tag_info":"Stories","comment_count":"0","_links":{"self":[{"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/posts\/12950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12950"}],"version-history":[{"count":0,"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/posts\/12950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/media\/12951"}],"wp:attachment":[{"href":"https:\/\/8657085.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}