Overview

• The alliance set a 137,000 barrels-per-day increase for October, smaller than the recent monthly steps above 500,000 bpd.
• By advancing the reversal of a separate 1.65 million bpd cut, OPEC+ has restored about 2.5 million bpd of supply since April.
• Analysts say Saudi Arabia and its allies are prioritizing regaining market share over price stability.
• Only Saudi Arabia and the United Arab Emirates are seen with meaningful spare capacity as most members operate near their limits.
• The United States under President Donald Trump has urged higher production levels, adding political pressure to raise supply.