OPEC+ Increases Slightly—Where Will Prices Go?
OPEC+ agreed to increase production by 137,000 barrels per day starting in October 2025, slower than previous increases. The decision was made by the eight core members of the alliance and marks the continuation of the tap after a long series of cuts.
This move is part of a gradual reversal of the 1.65 million bpd voluntary cuts previously planned through 2026. Russian official Alexander Novak emphasized that the decision will be reviewed monthly and could be reversed if market conditions change, while the actual impact is expected to be moderate due to capacity constraints among some members.
In the market, Brent prices edged up to around $66 and WTI near $62 after last week's decline, reflecting expectations that this output increase is relatively small and widely anticipated.
Looking ahead, market participants are wary of the risk of oversupply. The IEA estimates the surplus could approach a record in 2026, while Goldman Sachs projects Brent to fall to the low $50s in 2026 if inventories continue to build. (ayu)
Source: Newsmaker.id
