London Daily

Focus on the big picture.
Tuesday, Sep 09, 2025

OPEC+ likely to stick to its output target despite Kuwait’s concerns

OPEC+ likely to stick to its output target despite Kuwait’s concerns

OPEC+ and its allies are likely to keep their plan to gradually restore the vast amount of crude production halted during the pandemic and continue increasing production by 400,000 barrels per day every month for the remainder of the year even as members such as Kuwait are raising concerns about the weakness of the market.
Plans for supply increases came into question, as international crude prices sank about $11 a barrel roughly 15 percent, in the first three weeks of August as China reimposed lockdowns.

The 400,000 bpd increase in oil output agreed by OPEC+ nations in previous gatherings might be reconsidered at its next meeting on Sept. 1, Reuters reported on Sunday, citing Kuwait’s oil minister.

“The markets are slowing. Since COVID-19 has begun its fourth wave in some areas, we must be careful and reconsider this increase. There may be a halt to the 400,000 (bpd) increase,” Mohammad Abdulatif Al-Fares told Reuters at a government-sponsored event in Kuwait City.

He added that the economies of East Asian countries and China remain affected by COVID-19 and caution must be exercised. “There are meetings with OPEC countries, especially the Gulf Cooperation Council countries, and so far there are different views on how to handle this issue," Fares said.

The alliance might not change course easily as there are outages in North America affecting oil prices. Mexico has seen a halt of more than 400,000 bpd due to an offshore oil rig accident, while producers in the US are expecting decline in output due to a new storm hitting the US Gulf coast.

Oil and natural gas explorers in the US Gulf of Mexico and Louisiana refineries have begun shutting production ahead of Hurricane Ida. About 1.65 million bpd, or 91 percent of crude production, and 85 percent of gas output was shut-in as of Saturday, while 1.9 million bpd of refining capacity is shut, about 10 percent of the US total.

Ports from southern Louisiana to Mississippi were closed on Sunday morning as Hurricane Ida raced toward the US Gulf Coast as an extremely dangerous Category 4 storm. The Louisiana Offshore Oil Port, the largest privately owned crude terminal in the US, had also halted deliveries ahead of the storm, according to a notice on its website.

“The market east of Suez is weakening but it’s hard to see this coming as many countries within OPEC+ already like the UAE want to increase their output more, and there is pressure from consumers to bring down prices,” Abdulsamad Alawadhi, a London-based independent analyst and former Kuwaiti oil executive, told Arab News.

Analysts are already fixed on seeing OPEC+ maintains course, Bloomberg said on Friday based on a survey.

The US has urged OPEC and its allies to boost oil output to tackle rising gasoline prices that it views as a threat to the global economic recovery. Asked about the US call, Fares said OPEC+ members had different views on the matter.

"I agree with the minister’s sentiment, but it only reflects his position and I don't think it reflects that of the group," he added.

The OPEC+ coalition’s careful stewardship of the oil market has kept prices high enough to support the revival of the global petroleum industry, and largely avoided the kind of spike that could threaten the world’s economic recovery. They already restarted roughly 45 percent of the unprecedented production volume shuttered last spring.
Newsletter

Related Articles

0:00
0:00
Close
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Murdoch Family Finalises $3.3 Billion Succession Pact, Ensuring Eldest Son’s Leadership
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Court Staff Cover Up Banksy Image of Judge Beating a Protester
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Nayib Bukele Points Out Belgian Hypocrisy as Brussels Considers Sending Army into the Streets
Elon Musk Poised to Become First Trillionaire Under Ambitious Tesla Pay Plan
France, at an Impasse, Heads Toward Another Government Collapse
Burning the Minister’s House Helped Protesters to Win Justice: Prabowo Fires Finance Minister in Wake of Indonesia Protests
Brazil Braces for Fallout from Bolsonaro Trial by corrupted judge
The Country That Got Too Rich? Public Spending Dominates Norway Election
Nearly 40 Years Later: Nike Changes the Legendary Slogan Just Do It
Generations Born After 1939 Unlikely to Reach Age One Hundred, New Study Finds
End to a four-year manhunt in New Zealand: the father who abducted his children to the forests was killed, the three siblings were found
Germany Suspends Debt Rules, Funnels €500 Billion Toward Military and Proxy War Strategy
EU Prepares for War
BMW Eyes Growth in China with New All‑Electric Neue Klasse Lineup
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
US Justice Department Launches Criminal Mortgage-Fraud Probe into Federal Reserve Governor Lisa Cook
Escalating Drug Trafficking and Violence in Latin America: A Growing Crisis
US and Taiwanese Defence Officials Held Secret Talks in Alaska
Report: Secret SEAL Team 6 Mission in North Korea Ordered by Trump in 2019 Ended in Failure
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Florida Murder Case: The Adelson Family, the Killing of Dan Markel, and the Trial of Donna Adelson
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Brand-New $1 Million Yacht Sinks Just Fifteen Minutes After Maiden Launch in Turkey
Here’s What the FBI Seized in John Bolton Raid — and the Legal Risks He Faces
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Queen Camilla’s Teenage Courage: Fended Off Attempted Assault on London Train, New Biography Reveals
Scottish Brothers Set Record in Historic Pacific Row
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Court of Appeal Allows Asylum Seekers to Remain at Essex Hotel Amid Local Tax Boycott Threats
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
×