OPEC+ to Ramp Up Oil Output in August
July 7, 2025 No Comments
Member countries produce roughly half of the planet’s oil and have been curtailing output since 2022 to buoy the market.
Member countries produce roughly half of the planet’s oil and have been curtailing output since 2022 to buoy the market.
More supply increases are scheduled over the coming months as the organization reverses a previous production cut.
“I think we’ve gone from scarcity to abundance — from the green gospel of scarcity and its Trinitarian ESG god — to the promised land of abundance guided by the values of affordability and reliability,” David DesRosiers, conference co-chair of the RealClear Energy Future Forum, said.
Oil prices fall to their lowest level since April 2021 and OPEC announces it will increase production. Lowering energy costs will benefit the overall economy, but some experts say the oil and gas industry can’t be profitable with prices this low — or lower.
Gold and oil prices jumped in early trade on Monday following heightened geopolitical tensions in the Middle East.
His LNG export permit ban looks worse the more you examine it.
Biden has had to walk a tightrope between environmentalists who want to stop oil and voters who don’t want to pay too much at the pump. He’s had to travel far and wide to find oil.
With oil investors and traders focused on an oil-price rally that has come close to $100 a barrel, some grades of crude oil are already trading above that milestone, highlighting an expectation of tight supply.
Take Norway. It leads the world in the adoption of electric cars, installation of heat pumps and also electricity – 98 per cent of which comes from hydro and other renewables. In those senses it is the country that our government wants us to be. Yet last month the Norwegian government approved an $18 billion investment programme by the state oil company to develop 19 new oil and gas fields.
Russia’s war on Ukraine has redrawn the global oil map, rerouting a fleet of skyscraper-size tankers on longer voyages as they shuttle crude shipments that are essential to the global economy.
So far Russia has been able to redirect many of its crude exports, but they are selling at a steep discount to a handful of buyers including India, China and Turkey.
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