Overview

• The alliance agreed to add 547,000 barrels per day in September, marking the end of its 2.2 million bpd voluntary cutback initiated in 2023
• This output hike underscores OPEC+’s strategic pivot from defending prices with curbs to regaining market share through higher production
• Members cited a resilient global economy and low crude inventories as the basis for accelerating the restoration of withheld supply
• Industry analysts warn that continued increases risk swelling stockpiles and triggering a supply glut if demand growth weakens
• President Trump’s threats of secondary tariffs on buyers of Russian oil add political pressure to OPEC+’s future production decisions