OPEC+ Announces Major Oil Production Boost to Strengthen Global Market Share
OPEC+ Announces Major Oil Production Boost to Strengthen Global Market Share August 4, 2025 In a bold move to solidify its control over the global oil market, the alliance of oil-producing nations known as OPEC+ has approved a significant increase in oil production for September. This decision, revealed during a short online meeting among eight key member countries, represents the latest step in a strategic shift to regain lost market share and respond to global political and economic pressures. What Happened? On Sunday, OPEC+ members agreed to raise oil output by 547,000 barrels per day (bpd) starting in September. This continues a pattern of monthly hikes that began earlier this year and marks a total reversal of earlier deep production cuts the alliance had implemented during economic downturns and the COVID-19 crisis. In total, the increase—along with an additional production allocation to the United Arab Emirates (UAE) —brings back approximately 2.5 million bpd , repr...