OPEC + tightens control as it accelerates oil production

OPEC+ is shaking up the oil market once again. With plans to accelerate its production increases, the group—led by Saudi Arabia—is making bold moves to enforce discipline among members and expand its influence. 

Below, we break down the key developments and what they could mean for global oil prices and supply in the coming months.

1. OPEC+ will accelerate oil output, adding up to 2.2M bpd by Nov as Saudi Arabia seeks to discipline members that exceeded quotas, according to Reuters.

2. Saudi Arabia targets Iraq and Kazakhstan for overproduction, signaling a policy shift aimed at regaining market share.

3. OPEC+ approved extra production hikes for May and June, with plans to release nearly 1M bpd in three months.

4. A July increase of 411,000 bpd is likely, with more hikes in August–October if noncompliance persists.

5. Voluntary cuts could be fully lifted by November if countries like Kazakhstan and Iraq don’t make up for past excesses.

6. Kazakhstan openly defied OPEC+, saying national interest will dictate production, not the group’s rules.

7. Oil prices dropped below $60 in April as output surged and global demand concerns grew.

8. Analysts expect pressure on oil prices to continue unless OPEC+ enforces stricter compliance.

9. The move comes ahead of a U.S.-Saudi meeting, where Trump is set to discuss defense deals and push for more oil output.

   
   

   

   OPEC + tightens control as it accelerates oil production