Insider: OPEC+ members will agree to increase daily oil production by 548,000 barrels in August.

date
05/07/2025
OPEC+ is expected to increase production next month by more than originally anticipated, as the organization led by Saudi Arabia is trying to take back market share by capitalizing on strong summer demand. According to delegates at an online meeting held on Saturday, eight key alliance members agreed to raise daily production by 548,000 barrels. Previously, the organization had announced increases of 411,000 barrels in May, June, and July - triple the originally planned production - and traders had expected a similar increase in August. This production increase comes as the Organization of the Petroleum Exporting Countries and its partners have significantly adjusted their strategies to accelerate the recovery of restricted production levels. Since April, the organization has shifted from years of production limits to reopening oil wells, a move that has surprised crude oil traders and raised questions about their long-term strategy. OPEC+ will reintroduce restricted production capacity to the market, with expectations that the market will face oversupply later in the year. Since 2025, Brent crude oil futures prices have dropped by 8.5%. This decline is mainly due to increased production from OPEC+ member countries and other regions, as well as uncertainty in global economic demand prospects due to Trump's trade war.
Latest
See all latestmore