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Opec+ to boost oil output for third consecutive month
- OPEC+ agreed on Saturday, July 2025, to increase oil production by 411,000 barrels per day, continuing a series of monthly boosts.
- This decision follows a gradual unwinding since April of a 2.2 million bpd cut made in 2022, amid some members exceeding quotas and differing compliance.
- Saudi Arabia, Russia, and six other key members led the increase while expressing frustration with over-producers like Kazakhstan, which exceeded its quota by 300,000 bpd.
- Analyst Jorge Leon described May as an initial alert, June as a verification, and July as a clear signal, highlighting ongoing market uncertainty as Brent crude remained near $63.
- The output rise aims to regain market share and meet higher summer demand, though analysts expect only moderate price reactions despite trade war concerns.
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RocketNewsOil prices jump after OPEC+ agrees to another sharp production hike
·United States
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OPEC+ oil producers stick to their guns with another big hike for July
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.
·United Kingdom
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mannheim24.de+4 Reposted by 4 other sources
The cartel controls around 40 percent of global oil production. A core group around Saudi Arabia and Russia sets the tone and gradually turns up the oil taps.
Coverage Details
Total News Sources117
Leaning Left10Leaning Right12Center22Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 23%
C 50%
R 27%
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