OPEC+ is studying a new increase in production .. Do prices fall to the fifties?

Analysts expect that OPEC+ will announce a new increase in oil production during its next meeting in November, after it has already decided to raise its production in October by 137 thousand barrels per day, as part of a plan to cancel the voluntary discounts of 2.2 million barrels per day.

The background of the Decision of Decision is major countries from the coalition, including Saudi Arabia, Russia, Iraq, the Emirates, Kuwait, Kazakhstan, Algeria and the Sultanate of Oman, previously announced that it will add the same amount in October compared to September, in a move aimed at strengthening the market share and maintaining the stability of supplies. The total discounts approved by the group in recent years amounted to 5.85 million barrels per day, of which 2.2 million barrels voluntarily from eight countries, And 1.65 million barrels of other members, in addition to two million barrels of the entire alliance. Expert positions
George Leon (Risad Energy): OPEC+ is expected to continue its production until the end of the year, noting that the impact on prices will depend mainly on geopolitical developments, especially the war in Ukraine.
– Global Risk Management: He sees oil prices near $ 70 make production increase logical, but if prices collapse below $ 60, OPEC+ will have to stop increases.
– David Gorbnaz (ICIS): It warns that the surplus of supply in the last quarter of 2025 may pressure the market, especially with the continued production of non -members at standard levels and a seasonal decline in the rates of refineries.
Brent contracts for November delivery fell 47 cents (-0.69%) to record $ 67.50 a barrel.
The most active December contracts fell 43 cents (-0.64%) to $ 66.66.
-West Texas Intermediate crude lost 40 cents (-0.63%), registering $ 63.05. The next scenario if the global economy continues to be weak or a recession, prices may land to $ 50, especially if China stops buying oil to form its reserves. On the other hand, any new geopolitical disorder may reflect the direction and raise prices again.
(CNN Economic)