US EditionGoldman Sachs Sees OPEC+ Raising Oil Output by 0.41 Mb/d in August
- During a virtual meeting on June 1, 2025, OPEC+ decided to raise its crude output by 411 thousand barrels daily starting in July 2025.
- The decision follows similar monthly increases in May and June and reflects a strategic shift away from supporting prices amid a steady global economic outlook.
- The alliance pointed to a stable global economic outlook and reduced oil stockpiles as reasons for the supply increase, although certain members, particularly Russia, suggested halting the rise in production.
- Analyst Harry Tchilinguirian said, "market share is on top of the agenda" as prices fell below $60 per barrel in April and the output increase pressured crude valuations.
- This third straight increase in output reflects OPEC+’s strategy to boost production and ensure adherence among members, while Goldman Sachs anticipates a comparable 411,000-bpd rise in August that may add further downward pressure on oil prices.
38 Articles
38 Articles
Goldman Expects OPEC+ Output Hikes to End in August
Goldman Sachs expects OPEC+ to make its final production hike in August at the now standard level of 411,000 barrels daily. “Relatively tight spot oil fundamentals, beats in hard global activity data, and seasonal summer support to oil demand suggest that the expected demand slowdown is unlikely to be sharp enough to stop raising production when deciding on August production levels on July 6th,” the bank said in a note, as cited by Reuters. OPEC…
Goldman Sachs sees OPEC+ raising oil output by 0.41 mb/d in August
(Reuters) – Goldman Sachs anticipates the eight country OPEC+ oil group will implement a final 0.41 million barrels per day (mb/d) production increase in August, the bank said in a note dated Sunday. “Relatively tight spot oil fundamentals, beats in hard global activity data, and seasonal summer support to oil demand suggest that the expected demand slowdown is unlikely to be sharp enough to stop raising production when deciding on August produc…
OPEC+ to hike oil production in July, prioritizing market share
Eight OPEC+ countries, including Saudi Arabia, Russia, Iraq, and the UAE, agreed on Saturday to increase oil production by 411,000 barrels per day in July, continuing their strategy to reclaim market share and enforce compliance among members.
OPEC+ Agrees to Another Increase in Oil Production by July
London. The Organization of Petroleum Exporting Countries and its OPEC+ allies agreed to increase oil production in July 411,000 barrels per day (bpd), as in May and June, at a time when the group continues to replenish the supply more quickly than expected.
OPEC+ oil producers plan big hike
The world's largest group of oil producers, OPEC+, stuck to its guns on Saturday with another big increase of 411,000 barrels per day for July as it looks to wrestle back market share and punish over-producers. Having spent years curbing production – more than 5 million barrels a day (bpd) or 5% of world demand – eight OPEC+ countries made a modest output increase in April before tripling it for May, June and now July. They are spurring producti…
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