{"id":1533776,"date":"2025-05-02T18:40:00","date_gmt":"2025-05-02T22:40:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1533776"},"modified":"2025-05-02T18:40:00","modified_gmt":"2025-05-02T22:40:00","slug":"opec-moves-up-meeting-to-discuss-oil-production-quotas","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/opec-moves-up-meeting-to-discuss-oil-production-quotas\/1533776\/","title":{"rendered":"OPEC Moves Up Meeting To Discuss Oil Production Quotas"},"content":{"rendered":"

OPEC Moves Up Meeting To Discuss Oil Production Quotas<\/span><\/p>\n

\n

By Julianne Geiger of OilPrice.com<\/a><\/em><\/p>\n

The OPEC+ members currently participating in voluntary production cuts will meet this Saturday, May 3, instead of Monday, May 5, according to Kpler\u2019s Amena Bakr on X. The call is set for noon Vienna time, with the agenda focused on \u201cconsensus building around maintaining the sped-up increment of 411K for June.\u201d<\/strong><\/p>\n

<\/a><\/em><\/p>\n

Brent crude had slipped nearly 1% by late Friday morning, trading at $61.56. It\u2019s a price level not seen since early 2021\u2014and one that puts most OPEC+ budgets underwater.\u00a0<\/p>\n

For producers already grappling with restricted output, prices below $65 are a growing fiscal headache.<\/strong><\/p>\n

<\/a><\/p>\n

The accelerated meeting follows mounting tensions within the group.\u00a0<\/p>\n

Reports suggest Saudi Arabia is signaling it can live with lower prices\u2014a not-so-subtle message to chronic overproducers like Iraq and Kazakhstan.<\/strong><\/p>\n

<\/a><\/p>\n

The 411,000 bpd production increase originally floated as a wake-up call may now be cemented into policy,<\/strong> signaling a strategic shift in Riyadh\u2019s approach.<\/p>\n

OPEC+ has pledged to offset 4.57 million bpd of overproduction by mid-2026. But enforcement remains patchy.\u00a0<\/strong><\/p>\n

Saturday\u2019s call will test whether Riyadh and Moscow can still steer the ship\u2014or whether quota politics are about to devolve into a full-blown battle for market share.<\/p>\n

Meanwhile, a Bloomberg survey released Thursday showed that OPEC\u2019s actual output fell by 200,000 bpd in April<\/a>, down to 27.24 million – contradicting the group\u2019s planned increase.<\/p>\n

Goldman assigns a 70% subjective probability that the announced change in OPEC8+ supply for June will be 0.41mb\/d, a 25% probability to a larger increase, and a 5% probability to a 0.14mb\/d increase.<\/p>\n

Market pessimism is already pricing in a production hike.<\/strong>\u00a0<\/p>\n

But April\u2019s figures are a reminder: announced increases don\u2019t always materialize. Whether Saudi Arabia will keep absorbing the blow while others cheat\u2014or start using price as a weapon to enforce discipline\u2014won\u2019t be decided in a Vienna video call. It\u2019ll be decided at the wellhead.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nFri, 05\/02\/2025 – 14:40<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/energy\/opec-moves-meeting-discuss-oil-production-quotas<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

OPEC Moves Up Meeting To Discuss Oil Production Quotas By Julianne Geiger of OilPrice.com The OPEC+ members currently participating in voluntary production cuts will meet…<\/p>\n","protected":false},"author":0,"featured_media":1533777,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1533776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1533776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1533776"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1533776\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1533777"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1533776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1533776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1533776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}