OPEC+ boosts oil production by 137,000 barrels per day
OPEC and its allies (OPEC+) just agreed to boost oil production by 137,000 barrels a day starting October 2025.
This follows a bigger jump earlier this year and is part of their plan to slowly roll back the big supply cuts they made during tougher times.
The group seems more focused on grabbing market share now than keeping prices high.
OPEC+'s move to ease supply cuts
This move could shake up global oil prices, especially since markets have stayed tight even with talk of oversupply.
Some OPEC+ countries might not hit their new targets due to past penalties or limited capacity, but overall, more oil likely means cheaper prices at the pump—something leaders like US President Trump are pushing for as inflation bites.
Plus, with Saudi Crown Prince Mohammed bin Salman meeting Trump in Washington soon, it's clear there's some big-picture strategy behind these numbers.