US EditionOPEC+ agrees another accelerated oil output hike for June
- Eight OPEC+ countries agreed on May 3, 2025, to increase oil production by 411,000 barrels per day in June during an online meeting.
- This decision follows a similar 411,000 bpd hike in May and reflects ongoing supply discipline issues and softer demand forecasts amid US-China trade tensions.
- The production increase aims to enforce compliance on over-producing members like Iraq and Kazakhstan while responding to a market pressured by global surplus and low prices.
- Analyst Jorge Leon explained that the Saudi-led coalition is shifting its approach by increasing output to regain market share after having reduced production for several years in response to prices dropping below $60 a barrel.
- The expanded output risks further lowering crude prices, potentially pushing American producers into unprofitability and reflecting OPEC+'s test of pricing power.
117 Articles
117 Articles
OPEC approves an accelerated increase in oil production and for June. New policy surprised the markets - HotNews.ro
The OPEC+ Alliance, led by Saudi Arabia and Russia, decided on Saturday the increase of 411.000 barrels per day (bz) of its oil supply, starting on 1 June, after the month of May, they already started...
OPEC+ agrees another supply surge in June to deepen oil rout
OPEC+ agreed to surge output again in June, as the group’s leaders continue an accelerated revival of supply aimed at punishing over-producing members that has sent crude prices plunging. Key nations led by Saudi Arabia and Russia agreed to add 411,000 barrels a day next month, according to a statement on OPEC’s website following a video conference on Saturday. The hike mirrors a similar increase announced last month, when the group made the sh…
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