Overview

• OPEC+ decided on Sunday to boost September output by 547,000 barrels per day, marking an early and complete rollback of its 2.5 million bpd cut from 2023.
• Kuwait’s quota under the latest agreement is set at 2.548 million bpd, and officials confirm spare capacity to raise production further if market conditions warrant.
• Oil prices slid about 1 percent to an eight-week low after President Trump’s remarks on Moscow talks and a fresh 25 percent U.S. tariff on Indian goods increased uncertainty.
• Oil minister Tariq Al-Roumi described the market as healthy with moderate demand growth and forecast prices would remain below $72 per barrel.
• OPEC+ leaders are closely monitoring supply-demand balances and U.S. policy signals to assess the impact of geopolitical shifts and trade measures on price stability.