OPEC+ Members to Raise Oil Output by 137,000 Barrels a Day in October
By: TPA News Desk | World News | editor@thepointafricanews.com Eight key OPEC+ members — Saudi Arabia, Russia, Algeria, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, and Oman — have agreed to increase crude oil production by 137,000 barrels per day beginning in October, marking a new step in the group’s gradual unwinding of voluntary supply […]
By: TPA News Desk | World News | editor@thepointafricanews.com
Eight key OPEC+ members — Saudi Arabia, Russia, Algeria, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, and Oman — have agreed to increase crude oil production by 137,000 barrels per day beginning in October, marking a new step in the group’s gradual unwinding of voluntary supply cuts.
The move follows earlier rollbacks of larger curbs and is seen by analysts as a strategic bid to reclaim market share, even as global oil demand remains uneven and prices have slipped this year. Brent crude is currently trading around $65–$66 per barrel, down more than 10 percent since January.
While the headline figure signals intent, experts caution that actual increases may be lower due to capacity constraints in several member states, with estimates suggesting a real boost closer to 60,000 barrels per day.
Saudi Arabia, the group’s leading producer, has pushed for a gradual restoration of output as part of a broader effort to maintain influence in global energy markets. The adjustment also underscores OPEC+ flexibility: members have left open the option to pause, reverse, or accelerate supply changes depending on price trends and geopolitical conditions.
The alliance will reconvene on October 5 to reassess market conditions and decide whether further adjustments are needed.
