OPEC+ Accelerates Oil Production Increase Amid Market Volatility

OPEC+ is set to formally approve a 548,000 barrel-per-day production increase for September, marking the final phase of reversing last year's 2.2 million bpd cuts. The decision, to be ratified in a VIRTUAL meeting Sunday, includes a special allocation for the United Arab Emirates.

The MOVE underscores OPEC+'s strategic shift from price support to volume expansion, continuing an aggressive supply ramp-up that began in April. Market turbulence followed President Trump's 'Liberation Day' tariff announcement, pushing oil futures to four-year lows and prompting the alliance to accelerate its production timeline.

With July's early output hike and this September's planned increase, OPEC+ will fully unwind its 2020 supply reduction. Traders now speculate about the potential early return of the remaining 1.66 million bpd currently withheld until 2026, as global supply concerns intensify.