Saudi Arabia is pushing OPEC+ to fast-track the group’s next oil production increase, moving up a supply hike originally scheduled for late 2026. OPEC+ has injected a lot of downside pricing risk into the oil markets this week, fuelling speculation that the second wave of voluntary cuts totalling 1.65 million b/d could be unwound much […]
Analysts note that much of the actual production growth since April has come from Saudi Arabia and the UAE, with other OPEC+ members struggling to meet their targets. RBC Capital Markets’ Helima Croft said the strategy has favored producers with spare capacity, as prices have held steady compared to early-year lows despite rising supply.