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paused a series of hikes during the first quarter — will add 206,000 barrels a day in April, according to a statement after their monthly video conference on Sunday.Most Read from BloombergMinneapolis Braces for Rent Crisis As ICE Surge Winds DownIt’s a Tough Time To Be a Black Real Estate DeveloperNew Tax Proposal Takes Aim at Thailand’s Salty Food ObsessionAlberta’s Deficit To More Than Double, Hit by Oil Price DropThe hike is just 1.5 times bigger than the 137,000-barrel increments made by the group in December. The conflict in the Middle East threatens to disrupt global oil flows, yet several OPEC+ producers have limited capacity to increase, while one delegate said it was too early to assess the market impact. Key Gulf members could also face the risk of export constraints if there are prolonged disruptions in the critical Strait of Hormuz.“This move is unlikely to calm markets — it’s a signal, not a solution,” said Jorge Leon, head of geopolitical analysis at consultant Rystad Energy AS who formerly worked at the OPEC secretariat. “You can announce higher production, but if tankers face constraints in Hormuz, the physical market remains tight.”Oil prices climbed to a seven-month high of $73 a barrel in London last week as concern over US President Donald Trump’s military build-up and a series of output disruptions shook up a global market that had seemed on track for significant oversupply.The Saudis, Iraq, Kuwait and the United Arab Emirates had already started to boost oil exports last month, echoing a surge some of them made during the American assault on Iran’s nuclear facilities last June.Whether they can continue the export push will ultimately depend on the status of Hormuz — a vital route to global markets for some of OPEC+’s biggest members — where traffic has slowed to a trickle as the conflict unfolds.The Organization of the Petroleum Exporting Countries’ spare production capacity is largely confined to Saudi Arabia and the UAE, which together hold about 2.5 million barrels a day, or less than 3% of world supplies, according to the International Energy Agency. Some analysts believe that even this figure may be an overestimate.“Spare capacity is really only sitting in Saudi Arabia at this stage, with the rest of the producers effectively maxed out — hence the actual barrel-add will be exceedingly modest,” said Helima Croft, head of commodity-markets strategy at RBC Capital Markets LLC. “Everything that you bring on now leaves less in reserve.”Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,881.62 +2.74 (+0.04%)Dow 3048,904.78 -73.14 (-0.15%)Nasdaq22,748.86 +80.65 (+0.36%)Russell 20002,655.94 +23.58 (+0.90%)VIX21.44 +1.58 (+7.96%)Gold5,338.60 +90.70 (+1.73%)Trending tickersBRK-B Berkshire Hathaway Inc. 480.17 -24.78 (-4.91%)BTC-USD Bitcoin USD 69,429.88 +3,737.53 (+5.69%)AVAV AeroVironment, Inc. 208.32 -43.93 (-17.42%)F Ford Motor Company 13.39 -0.70 (-4.97%)CL=F Crude Oil Apr 26 71.39 +4.37 (+6.52%)PortfolioSign in to access your portfolioSign inTop gainersEMAT Evolution Metals & Technologies Corp. 10.16 +2.19 (+27.48%)OCUL Ocular Therapeutix, Inc. 10.98 +2.04 (+22.82%)AXTI AXT, Inc. 46.32 +8.42 (+22.22%)AAOI Applied Optoelectronics, Inc. 102.51 +18.28 (+21.70%)LASR nLIGHT, Inc. 67.69 +11.50 (+20.47%)Top losersTPB Turning Point Brands, Inc. 108.51 -28.48 (-20.79%)AES The AES Corporation 14.21 -3.07 (-17.77%)AVAV AeroVironment, Inc. 208.32 -43.93 (-17.42%)ELF e.l.f. 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