OPEC+ Production Increase Raises Oversupply Risk | Presented by CME Group
Bloomberg Televisionยท2025-08-13 15:13
OPEC Plus's recent decision to raise oil production by 547,000 barrels per day in September is the latest in a series of accelerated output hikes, bringing the total phased in increase since April to approximately 1.92% million barrels per day, slightly below but close to the original target of 2.2% million barrels. This boost in supply has put downward pressure on crude prices with help from lackluster US fuel demand and a cooling US labor market. July's weak jobs report only intensified expectations of we ...