US EditionOil Prices Ease on Surprise Build in US Crude Stockpiles, OPEC+ to Consider Output Hike
OPEC+ plans to lift oil output by up to 1.66 million barrels per day in October to regain market share, risking a supply surplus amid weak demand forecasts.
- Oil markets fell about 2% as traders focused on an OPEC+ meeting on Sunday, September 7, 2025, where eight producers may raise October supply.
- Since April, OPEC+ began unwinding deep cuts, increasing quotas by 2.5 million barrels per day after previously approving 2.2 million barrels per day plus 300,000 bpd for the UAE.
- Brent crude futures fell to $67.60 and West Texas Intermediate to $63.97 at settlement, while API data showed U.S. crude stocks rose by 622,000 barrels and job openings dropped to 7.181 million.
- If OPEC+ raises quotas further, it could push the market into a sizeable surplus in the fourth quarter, and tapping the remaining 1.66 million barrels per day would signal a return to chasing market share and keep prices subdued.
- Investors remain focused on whether Brent will hold or test the lower $60 band, with Commonwealth Bank of Australia analyst Vivek Dhar saying OPEC+ is comfortable at $60 to $65, while Rebecca Babin warned it's "flying too close to the sun" this year.
Insights by Ground AI
Does this summary seem wrong?
25 Articles
25 Articles
OPEC+ To Discuss Further Oil Output Hike to Regain Market Share
Background OPEC+, the coalition of the Organization of the Petroleum Exporting Countries and allies including Russia, has long used production cuts to stabilize oil markets. Since April 2025, however, the group reversed its strategy, raising output to regain market share and respond to political pressure. U.S. President Donald Trump has pushed for lower prices, while […] The post OPEC+ To Discuss Further Oil Output Hike to Regain Market Share ap…
Oil fell after a report that the OPEC+ alliance will consider further production increases when the group meets this weekend.
·United States
Read Full Article
The future contracts of Brent oil closed with a 1% discount, US$ 66.95 per barrel
Coverage Details
Total News Sources25
Leaning Left2Leaning Right2Center2Last UpdatedBias Distribution33% Left, 33% Center, 33% Right
Bias Distribution
- 33% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
33% Right
L 33%
C 33%
R 33%
Factuality
To view factuality data please Upgrade to Premium
