Tuesday, August 05, 2025

OPEC+ Makes Another Large Oil Output Hike

OPEC+ agreed on Sunday to raise oil production by 547,000 barrels per day for September, the latest in a series of accelerated output hikes to regain market share, as concerns mount over potential supply disruptions linked to Russia.

Posted by REDIAL at 07:31 AM | 7 COMMENTS | permalink

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Oil slips after OPEC+ agrees to hike output in September reut.rs/4l76tG5

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-- Reuters (@reuters.com) Aug 3, 2025 at 6:45 PM

Comments

The world oil market seems to have many variables.

Some even seem to be rational.


#1 | Posted by LampLighter at 2025-08-03 11:51 PM

@#2

Others, not so much.

#2 | Posted by LampLighter at 2025-08-04 12:01 AM

The world oil market seems to have many variables.

OPEC has generally the lowest production costs so they have quite an advantage.

#3 | Posted by REDIAL at 2025-08-04 12:02 AM

@#3 ... OPEC has generally the lowest production costs so they have quite an advantage. ...

Agreed.

But they also need to have agreement among its members.


#4 | Posted by LampLighter at 2025-08-04 12:12 AM

But I thought we were going to drill our way to cheaper energy?!?

You mean a global commodity will follow the whims of global markets!!?!

#5 | Posted by jpw at 2025-08-04 10:36 AM

It's a great cycle.

OPEC cuts production, raises prices, drain our wallets and make massive profits.

Independent drillers see the higher prices, jump in with wall street financing and steal market share from OPEC.

OPEC boosts production, cuts prices (still make money because they aren't heavily leveraged) and drive the independent drillers into bankruptcy.

Big oil drillers scoop up producing oil fields from bank foreclosures for pennies on the dollar.

The circle of greed.

#6 | Posted by Nixon at 2025-08-05 07:38 AM

Saudi Aramco, a company owned by the Saudi Arabian government... a member of OPEC... owns the largest oil refinery in the US... Port Arthur Refinery in Texas...

curious how this will play out...

I'm sure Bushturds are making out like bandits.

#7 | Posted by RightisTrite at 2025-08-05 08:44 AM

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