Kathmandu. OPEC (APEC) — OPEC Plus ministers will meet on Sunday to discuss raising production quotas as global prices have risen sharply due to the disruption of oil supplies caused by the Iran war. The main purpose of this move is to control the rising oil prices in the international market.

According to analysts, OPEC Plus is likely to decide to increase production by about 188,000 barrels per day, which would be similar to recent decisions. But with limited production capacity, only seven countries — Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman — are actually able to increase supply.

The Strait of Hormuz, a key maritime route that has been closed since the US and Israel attacks on Iran, has disrupted about 20% of the world’s oil and gas supply. Due to this disruption, the price of oil in the international market has almost doubled, and its effect is being seen in inflation around the world.

Experts say that even if OPEC Plus has announced to increase production, its real impact is likely to be limited. Ole Hanson, an analyst at Saxo Bank, said OPEC does not have many options to make big and decisive changes in the market, making its policy impact weaker.