OPEC+ Eyes To Reclaim Market Share With Bigger August Hike, Supply To Rise By 548,000 Barrels A Day

OPEC+ will ramp up oil production faster than previously expected, with eight key members set to increase output by 548,000 barrels per day next month, reported NDTV.

The moves comes as the group, led by Saudi Arabia, aims to capitalise on robust summer demand and reclaim market share.

This decision to ramp up production represents a dramatic strategic shift for OPEC+, moving away from years of output restraint to rapid production increases.

Brent oil futures have already fallen 8.5 per cent in 2025 amid increased output by OPEC+ and other producers. Further, US President Trump’s trade war has created an uncertain demand outlook, contributing to this decline.

Despite long-term oversupply worries, the immediate market shows strength with high demand expected during the northern hemisphere summer.

OPEC+ is reportedly expediteing its production revival partly to leverage this demand.

The substantial August increase will complete the return of 2.2 million barrels per day of previously halted output by September, a year ahead of schedule.

However, the actual increase may be smaller as some members, like Kazakhstan, have over-produced, and the group now pressing them to compensate by lowering production.

Also Read : Microsoft Pulls Plug On Pakistan Office In Major Blow To Country’s Struggling IT Ecosystem