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OPEC+ Dials Up Downside Risk as Saudis Eye Further Output Hikes

OilPrice · Tom Kool · last updated
Saudi Arabia is pushing OPEC+ to fast-track the group’s next oil production increase, moving up a supply hike originally scheduled for late 2026. OPEC+ has injected a lot of downside pricing risk into the oil markets this week, fuelling speculation that the second wave of voluntary cuts totalling 1.65 million b/d could be unwound much quicker than previously expected. Saudi Arabia is seemingly interested in pushing ahead with the unwinding during the September 7 meeting, despite potentially facing a giant oversupply issue. The audacity of…
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