OPEC+ agrees to raise output next month as focus shifts to market share
The post OPEC+ agrees to raise output next month as focus shifts to market share appeared on BitcoinEthereumNews.com. OPEC is going for volume again. Delegates from the alliance confirmed they’ve agreed in principle to increase production next month. The plan is to add about 137,000 barrels per day, starting in October, as part of a larger strategy to take back lost market share. The group, led by Saudi Arabia and Russia, has already pushed forward an earlier phase of production hikes, and now they’re going ahead with the next one. This is part of a bigger plan to bring back the 1.66 million barrels a day of cuts that were meant to stay in place until the end of 2026. That timeline has now been thrown out the window. If they stick to the pace of 137,000 barrels a month, the full rollback could be done in a year. But it won’t be that clean. Some countries don’t have the spare capacity. Others are being told to sit out the increase to make up for earlier overproduction. So the real number is going to come in lower than advertised. Saudi Arabia and Russia push through the pivot The shift marks a full-blown strategy reversal by OPEC and its partners. The cartel used to fight tooth and nail to protect prices. Now? They’re chasing market share, no matter how crowded it gets. Just months ago, OPEC+ shocked the market by restarting 2.2 million barrels per day of halted supply, a full year ahead of schedule. That decision blindsided traders who had been expecting a long freeze due to surplus risks. So far, the gamble hasn’t broken the market. Yes, crude prices have fallen 12% this year. But the overall market has held up better than most expected. That’s giving Saudi Arabia more confidence to roll out even more barrels. And there’s more than oil at play. Donald Trump, back…
The post OPEC+ agrees to raise output next month as focus shifts to market share appeared on BitcoinEthereumNews.com.
OPEC is going for volume again. Delegates from the alliance confirmed they’ve agreed in principle to increase production next month. The plan is to add about 137,000 barrels per day, starting in October, as part of a larger strategy to take back lost market share. The group, led by Saudi Arabia and Russia, has already pushed forward an earlier phase of production hikes, and now they’re going ahead with the next one. This is part of a bigger plan to bring back the 1.66 million barrels a day of cuts that were meant to stay in place until the end of 2026. That timeline has now been thrown out the window. If they stick to the pace of 137,000 barrels a month, the full rollback could be done in a year. But it won’t be that clean. Some countries don’t have the spare capacity. Others are being told to sit out the increase to make up for earlier overproduction. So the real number is going to come in lower than advertised. Saudi Arabia and Russia push through the pivot The shift marks a full-blown strategy reversal by OPEC and its partners. The cartel used to fight tooth and nail to protect prices. Now? They’re chasing market share, no matter how crowded it gets. Just months ago, OPEC+ shocked the market by restarting 2.2 million barrels per day of halted supply, a full year ahead of schedule. That decision blindsided traders who had been expecting a long freeze due to surplus risks. So far, the gamble hasn’t broken the market. Yes, crude prices have fallen 12% this year. But the overall market has held up better than most expected. That’s giving Saudi Arabia more confidence to roll out even more barrels. And there’s more than oil at play. Donald Trump, back…
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