Commodities

OPEC+ Discusses 411,000-Barrel Hike in August, Delegates Say

WATCH: OPEC+ is meeting this weekend via video-conference and is expected to deliver another substantial production hike. Stephen Stapczynski reports.Source: Bloomberg

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By Salma El Wardany, Grant Smith, and Fiona MacDonald

July 3, 2025 at 5:15 PM UTC

Updated on

July 3, 2025 at 5:33 PM UTC

OPEC+ has begun discussing another 411,000 barrel-a-day production increase for August ahead of the group’s video-conference this weekend, according to delegates who asked not to be identified.

Saudi Arabia and its partners have previously approved hikes of the same size for May, June and July as they speed up the revival of halted output in order to reclaim global market share. The extra barrels threaten to swell a global oil surplus, and have added downward pressure to prices.