OPEC+ ministers are convening to discuss potential increases in oil production quotas in response to soaring prices caused by the ongoing conflict in Iran. The war has severely restricted oil shipments through the Strait of Hormuz, leading to a near doubling of oil prices globally. Analysts predict that while OPEC+ might aim to raise output by 188,000 barrels per day, only a few member nations, including Saudi Arabia and Russia, have the capacity to do so effectively. With current production plummeting to 33 million barrels per day, down from almost 43 million, the cartel's ability to influence prices is greatly diminished. The UAE's recent departure from OPEC adds to the challenges, as it seeks to increase its own production independently. Experts suggest that the only factor currently limiting further price increases is China's reduced oil imports, as it relies on its strategic reserves. The geopolitical landscape indicates that OPEC+ may struggle to fulfill its mission of ensuring stable petroleum supply and revenue for producers amidst these disruptions.