US EditionOil Prices up 3% After OPEC+ Keeps July Production Increase Unchanged
- OPEC+ decided on July 1, 2025, to increase oil production by 411,000 barrels per day for the third consecutive month.
- OPEC+ justified the sustained production rise by citing a stable global economic outlook despite ongoing concerns about demand and geopolitical tensions.
- The group includes major producers like Saudi Arabia and Russia, aims to regain market share, and intends to penalize members exceeding quotas.
- Oil prices rose about 3% with Brent crude reaching $64.52 and WTI climbing 3.19% to $62.73, as the increase was largely priced in and supply jitters lingered.
- The ongoing output increases suggest OPEC+ intends to maintain or expand production amid supply uncertainties and anticipate only a mild global demand slowdown.
15 Articles
15 Articles
OPEC and its allies preferred not to surprise us this Saturday and agreed on an increase in crude oil production for the month of July in line with the increases agreed for May and June. The expectation that this increase could be even higher was not fulfilled on Friday, giving even more speed to the change of strategy with which the cartel is undoing the path of the production cuts with which it tried to boost prices. The crude reacts today wit…
The barrel of oil rises 3% after the meeting of OPEC MADRID, 2 (EUROPA PRESS) The Ibex 35 has started in June with an ascent of 0.36%, to be placed at 14,202.8 points, amid new commercial tensions between the United States and its partners.The national selective [...] The entry The Ibex 35 goes back 0.36% and recovers the 14,200 points despite new commercial tensions appears first in Forbes Spain.
The producer group Opep+ maintained the increase in production in July at the same level as in the previous two months
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