OPEC+ is planning a New increase in production of oil starting from June. The sign, according to what was announced by the eight countries of the “additional declaration”, agreed to Add 411 thousand barrels of production per day for the second consecutive month And thus he would be trying to speed up the process of adjusting the offer, with the aim of restoring 2.2 million barrels of cuts previously made by November.
According to Bloomberg, the leading countries of the cartel, such as Saudi Arabia and Russiathey would be looking for, in this way, of punish members who continue to produce in excess, including Iraq and Kazakhstan.
The change of strategy of the cartel
Last month the OPEC+ had unexpectedly decided to triple the cuts already scheduled for May. A expected move, even if not in the amount, as Saudi Arabia had already reported that it was arranged to accept a prolonged period of low prices of oil.
The STRATEGY OF THE OPEC+, represents a clear turnaround Compared to the longtime strategy that the sign has always reiterated that he wanted to support to defend oil prices. The most recent decisions of OPEC therefore feed strong doubts about the future of the alliance, opening a possible consequences negative, like one price war Among the major worldwide producers in crude oil.
New price forecasts
Analysts have already reviewed their forecasts. Morgan Stanley has reduced oil price forecasts, providing 62.50 dollars per barrel For Brent in the third and fourth quarter of 2025, 5 dollars less than previously expected. Price also cut by Goldman Sachs analysts.
Meanwhile, the oil today slips on international markets, with the Brent That relegated by 3.6% to 59.10 dollars to the barrel, while the WTI score a discount of 3.7% to $ 55.68. Much lower prices than those indicated by analysts.
The reactions of central banks and Trump
This could be good news both for the central banks and for the President of the United States, Donald Trumpwhich in the next few days is expected in Saudi Arabia.
A price drop of supported and prolonged energy could, in fact, be welcomed in a positive way from the central banksincluding Federal Reserve. A lower price of oil and related products, including petrol, could compensate part of theinflationary impact provided for by duties.
Also Trump – expected in the Middle East at the end of May – would willingly welcome a price of the lower crude oil since he had asked the same to increase production and help reduce energy prices.
