Sunday 03/Aug/2025 – 03:04 PM
Three sources in the OPEC+ coalition said that eight member states of the group agreed during a meeting on Sunday to increase oil production by 548 thousand barrels per day in September.
The sources revealed the information while the meeting was still held, according to Reuters.
One of the sources said that the coalition will hold its next meeting on September 7.
OPEC: The global economy may improve in the second half of 2025
In its monthly report issued today, OPEC kept its expectations for the growth of global oil demand without change in 2025 and 2026 after its reduction in April, and this attributed this to strong economic expectations.
In the report, OPEC said that the performance of India, China and Brazil has exceeded expectations so far, while the United States and the euro area have witnessed a continuous recovery since last year.
She added: Accordingly, economic growth in the second half of 2025 may be better than expected.
The power of the economy and its ignorance of commercial conflicts facilitate the task of the OPEC+group, which includes OPEC, Russia and other allies, will proceed with its plan to increase production to restore its market share after discounts it adopted for years with the aim of supporting the market.
On July 5, OPEC+ agreed to increase production 548 thousand barrels per day in August, to accelerate the pace of production increases in its first meeting since the rise in oil prices and then declined after the Israeli and American attacks on Iran.
