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Oil prices may drop further as Opec+ boosts output from Oct
Business Standard
|September 09, 2025
The latest decision of the Organisation of Petroleum Exporting Countries and its allies, commonly known as Opec+, to boost output is being seen as an attempt to regain market share lost to the US, Brazil, and other oil producers, who have been increasing production recently.
The grouping had effected two voluntary production cuts in the past — first 1.66 million barrels per day (bpd), announced in April 2023, and the second of 2.2 million bpd with effect from November 2023. Beginning April this year, Opec+ had been increasing production every month. The latest September production increase fully reversed the 2.2 million bpd voluntary cut.
The latest Opec+ decision could drive benchmark Brent to trade below $65 per barrel (bbl), even tanking below $60/bbl by the end of December 2025, experts say. Currently, Brent is trading in the range of $66-$68/bbl and crude oil could drop further as Opec+ decided to boost production from October despite waning demand.
This story is from the September 09, 2025 edition of Business Standard.
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