OPEC+ to Increase Oil Production by 411,000 Barrels Daily in July

OPEC+ Boosts Oil Output: A 411,000 Barrel Per Day Increase Expected in July 2025 The Organization of the Petroleum Exporting Countries and its allies (OPEC+) have announced a significant increase in oil production, adding 411,000 barrels per day to their output starting in July 2025. This decision comes after a virtual meeting of eight key member states, including Saudi Arabia and Russia. The move is intended to address the evolving global oil market and maintain supply stability. The increase represents a strategic adjustment to the June 2025 production levels. According to the OPEC+ statement, this adjustment is the result of a careful assessment of current market conditions and anticipated future demand. The participating nations emphasized their commitment to the Declaration of Cooperation, which includes voluntary adjustments to production levels to ensure market balance. "This increase reflects our ongoing commitment to ensuring a stable and well-supplied global oil market," said one anonymous source involved in the negotiations. "We are constantly monitoring market dynamics and adjusting our production to meet the needs of consumers worldwide." The next OPEC+ meeting is scheduled for June 2025, where further production levels for August will be determined. The organization's commitment to regular monitoring and adjustments demonstrates a proactive approach to managing the global oil supply.