Overview

• Since April, the group has restored roughly 2.5 million barrels per day as it unwinds earlier cuts.
• Members brought forward the reversal of a separate 1.65 million barrel-per-day cut to add supply sooner.
• Ministers will reconvene on October 5 to consider accelerating, pausing, or reversing subsequent increases.
• Brent crude ended the week at $65.50 a barrel, down 2.2% yet still above 2025 lows near $58.
• Analysts say Saudi Arabia and allies are prioritizing market share, with only Saudi Arabia and the UAE holding notable spare capacity as the U.S. presses for higher output.