Austrian oil and gas group OMV said it expected higher energy prices to more than ‌offset disruptions to production and sales volumes caused by the war in the Middle East, a Reuters report said.

OMV recorded higher average energy prices in ​the first quarter of 2026, with the average price of natural gas rising by 17.8% compared to the fourth quarter.

Average realised crude oil price rose ​by nearly 20% quarter-on-quarter to $73.8 per barrel, the Vienna-based group said.

However, production fell to 288,000 barrels of oil equivalent per ‌day, ⁠down from 300,000 barrels in the previous quarter, the group said.

OMV said it expected interruptions to the flow of crude oil to reduce first-quarter earnings by roughly 100 million euros ($117 million) compared to ​the previous three ​months. It ⁠also flagged a further 150-million-euro hit to earnings mainly due to lower margins in its retail and ​commercial businesses, the report said.