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Oil weakens after production increase:
London: Oil prices fell on Monday after the high production increase announced on Sunday by the organization of oil exporting countries. Nevertheless, its allies (OPEC+), the market anticipating an abundant offer in the fourth quarter.
Ryad. Similarly, Moscow and six other cartel members announced an increase in their “production of 547,000 barrels per day in September 2025 compared to the level of production“In August, OPEC said in a statement.
This decision, expected by the market, signs the complete return of one of the three production cup slices -This 2.2 million barrels per day– that OPEC+ had implemented in 2022 and 2023 to fight against price erosion.
Around 9:30 a.m. Furthermore, GMT (11:30 a.m. hec). the price of the barrel of Brent oil weakens after production increase BRENT Brent or crude northern sea, is a variation of crude oil acting as a reference in Europe, listed on the intercontinentalelexchange (ICE), a stock market specialized in energy trading. It has become the first international standard for setting oil prices. of the North Sea, for delivery in October, lost 1,15% has 68,87 dollars.
Its American equivalent, the barrel of West Texas Intermediate, for delivery in September, fell from 1,22% has 66,51 dollars.
“The question is now whether the group will start implementing the next series“, either 1.66 million barrels By day, says Arne Lohmann Rasmussen of Global Risk Management.
For the moment. the prices of black gold have resisted better than what observers had anticipated at the start of the reopening of the valves in April, supported by a traditionally strong summer demand and a high geopolitical risk premium.
But from fall “the balance between supply oil weakens after production increase and demand indicates lower oil prices“, Specifies the analyst.
If nothing changes on the market, “The group has completed its supply increases“, according to Ing analysts. Many depends however”of what will happen to Russian oil flows“.
Donald Trump has threatened Moscow with sanctions last week if the conflict in Ukraine did not end here “ten days“.
He notably mentioned “Secondary customs duties“To countries that continue to buy products from Russia. and targeted India, the second Russian oil buyer after China, with near1.6 million barrels per day.
“If no other buyer presented himself for this oil. this would erase the excess planned for the fourth quarter and the year 2026“, Explain the analysts of ING, and would leave the opportunity to OPEC+ to increase its production even more.
(C) AFP
Oil weakens after production increase
Commenter Oil weakens oil weakens after production increase after the production increase in OPEC+
Community barrel price
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