The reopening of the Strait of Hormuz after the conflict in Iran is set to test the unity of OPEC+, with member states showing starkly different approaches to restoring oil production.
While the immediate threat to shipping routes has diminished, the cartel now faces a strategic dilemma: how quickly to return to pre-war output levels without triggering a price collapse.
Iraq and Kuwait are pressing for an aggressive return to production to recoup the significant revenue losses incurred during the hostilities.
These smaller Gulf producers, which lack the fiscal buffers of their larger neighbors, view the resumption of normal trade flows as an urgent opportunity to stabilize their budgets.
Their stance contrasts sharply with that of Saudi Arabia, which is advocating for a more gradual increase in output.
The kingdom appears willing to tolerate lower volumes in the short term to support prices and maintain market share, reflecting a more patient, long-term strategy.