{"id":104751,"date":"2026-03-02T00:00:00","date_gmt":"2026-03-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?p=104751"},"modified":"2026-03-02T15:24:37","modified_gmt":"2026-03-02T15:24:37","slug":"this-morning-opec-resumes-production-hikes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/03\/02\/this-morning-opec-resumes-production-hikes\/","title":{"rendered":"THIS MORNING: Opec+ resumes production hikes"},"content":{"rendered":"

Good morning, all. <\/strong>It is day three of the quickly escalating regional war and the whole world is on high alert as the impact of what\u2019s happening regionally echoes globally. <\/p>\n

At home: <\/strong>We\u2019re watching how global markets react during the first day of trading since the escalations began, how oil markets open, and what the closure of the Strait of Hormuz means for global energy supplies. <\/p>\n

From The Dept. of Minor Inconveniences<\/p>\n

Our website is down: <\/strong>EnterpriseAM.com<\/a> is one of the many, many services hosted on Amazon Web Services out of the UAE. The data center that hosts our site \u2014 and the apps and websites of dozens of other brands you know \u2014 was damaged after \u201cobjects hit\u201d it, reportedly starting a fire and leading to a power outage. Our site has been down since mid-afternoon on Sunday and we're yet to hear from Amazon when we can expect it to be back up.<\/p>\n

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<\/a> Opec+ tried to calm oil markets before they open today<\/strong>, agreeing to resume production<\/a>increases next month<\/a> with a modestly larger 206k bbl \/ d jump after pausing hikes in 1Q. Whether this proves symbolic or substantive will hinge on how the crisis evolves, and whether spare barrels successfully hit the water, which could prove difficult if the Hormuz Strait remains closed (more on that in today\u2019s War Watch, below).<\/p>\n

Flirting with triple-digits:<\/strong> Pundits are expecting a USD 5-10 \/ bbl increase in Brent crude price when markets open, with some saying it could reach USD 100 \u2014 a level unseen since Russia launched its offensive on Ukraine in 2022.<\/p>\n

A supply flex (with limits):<\/strong> The Kingdom, alongside Iraq, Kuwait, and the UAE, had already begun boosting exports from last month to multi-year highs, in anticipation of the attacks. The group\u2019s spare capacity sits largely with Saudi Arabia and the UAE, totaling some 2.5 mn bbl \/ d.<\/p>\n

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WEATHER- Foggy and dusty weather<\/strong> is expected for parts of the Eastern Region, Aseer, and Makkah, while the rest of the Kingdom is set for clear skies.<\/p>\n