OPEC+ to Consider Further Oil Output Hike: What It Means for Global Markets and Your Business Investments
LONDON – OPEC+ is expected to deliberate on further increasing oil production during a meeting scheduled for Sunday, according to two sources familiar with the discussions. The group aims to reclaim its market share amid shifting global oil dynamics.
If approved, this additional increase would effectively begin reversing a second tranche of output cuts totaling approximately 1.65 million barrels per day — equivalent to 1.6% of global demand — more than a year ahead of the initially planned timeline.
Eight OPEC+ member countries will participate in the online meeting to set oil production levels for October.
However, some analysts and an OPEC+ insider have indicated that the group might opt to pause production hikes for the upcoming month.
A final decision has yet to be confirmed, according to the OPEC+ source.
Requests for comment from both OPEC headquarters and Saudi Arabian authorities were not immediately answered.
Special Analysis by Omanet | Navigate Oman’s Market
OPEC+ considering an early increase in oil production signals potential easing of supply constraints, which could pressure oil prices downward in the near term. For Omani businesses and investors, this creates opportunities to diversify portfolios and reduce reliance on high oil price environments, while also preparing for increased market volatility. Smart entrepreneurs should watch OPEC+ decisions closely to strategically time investments in energy-linked sectors and explore growth in non-oil industries.
