OPEC+ Presses the Pedal: August Output Set to Surge by 548,000 bpd
IntroductionIn a notable policy shift, OPEC+—led by Saudi Arabia—will accelerate oil output in August, boosting supply by 548,000 barrels per day. This follows steady 411,000 bpd increases in prior months and marks a decisive move from price defense to reclaiming global market share . 1. From Cuts to Claims OPEC+ originally imposed sharp 2.2 million bpd cuts in…