Novak Discusses Possible Ban On Gasoline Exports By Oil Producer, Decision Relies On Upcoming Exchange Prices 📊⛽
OPEC+ Delegates Say No Discussions About Halting Oil Increase, All Options Are Open 🤝⛽️
Three OPEC+ delegates report that there have been no discussions about halting oil production increases, with all options still on the table.
The OPEC+ coalition is reviewing whether to halt further monthly oil-production increases after its next scheduled hike, delegates said this week. Initial briefings on 10 July indicated the group was discussing a pause from October, a move that would mark the end of the supply-restoration programme launched after the pandemic. The picture grew less clear on 11 July when three other delegates said no formal proposal to freeze increases had yet been tabled and that all options remain open ahead of the ministers’ meeting in early August. The mixed signals highlight the alliance’s attempt to balance prices against forecasts of a looser market later in the year. Goldman Sachs told Bloomberg Línea it expects the early-August rise—estimated at about 550,000 barrels a day—to be the final addition for some time, pointing to projected surpluses in 2025 as non-OPEC supply grows. Brent futures have firmed this week on the uncertainty over the producer group’s next steps.