79
OPEC+ has agreed to a modest oil production increase of 137,000 barrels per day, effective November 2025. This decision comes after market speculation about a larger 500,000 bpd rise caused significant volatility. Brent crude prices have fallen below $65 per barrel, down from a peak of $82 earlier in the year. The move aims to stabilize the market amid concerns over slowing demand and increasing U.S. shale production.
Internal tensions within the alliance have surfaced, with Russia advocating for a cautious approach due to sanctions and production limitations, while Saudi Arabia pushes for larger hikes to restore market share using its spare capacity. The group will reconvene on November 2 to assess further production plans.
