Overview

• OPEC+ will add 137,000 barrels per day from October, with any further return of the remaining 1.65 million bpd framed as contingent on market conditions and reversible.
• Brent traded near $66 and WTI around $62 after the decision, with prices supported by speculation about new sanctions on Russia following escalated attacks in Ukraine.
• Saudi Aramco cut official selling prices for most grades for October, including a $1 reduction for Arab Light to Asia, a move traders viewed as a bearish signal for demand.
• Goldman Sachs now projects a roughly 1.9 million bpd surplus by 2026 and sees Brent in the mid‑$50s next year, while S&P Global warned prices could drop to about $55 by year‑end as inventories build.
• U.S. oil companies have announced layoffs and trimmed capital spending as prices fall, and surveys and agencies expect U.S. output growth to slow or plateau into 2026.