According to Bloomberg analysts, Saudi Arabia and its partners may agree to another output hike in November 2025. The move comes as producers seek to offset weaker revenues from subdued prices and reclaim their global market share.
Oil prices have only edged lower recently as China replenishes its strategic reserves, while OPEC+’s previously announced supply increases have not been fully realized.
Eight key members of the alliance are expected to raise oil production by a combined 137,000 barrels per day.
Insider information reveals that Saudi authorities believe that higher output volumes will offset lost income from cheaper crude oil. Riyadh is also intent on regaining the global market share it has lost in recent years. “The group has embraced a market share strategy,” Kim Fustier, senior global oil and gas analyst at HSBC Plc, said. “We are skeptical that OPEC+ will blink unless oil prices fall materially,” the expert added.
