Is this good news to come for motorists? Eight OPEC+ member countries (producing countries and oil exporters) announced this Saturday Strong increase in oil production in June. And for good reason: 411,000 barrels will be produced every day, as in May. Even though only 137,000 barrels were planned, according to an initial reintroduction plan.
Saudi Arabia is at the origin of this decision, with Russia in particular and six other countries of the organization, according to a press release. A decision following that made last month, to produce 120,000 more barrels every day for 18 months. What sends A real message on the oil marketaccording to Jorge Leon, of Rystad Energy, speaking for AFP:
“OPEC+ has just launched a bomb on the oil market.” “After last month’s signal, today’s decision sends a clear message: the group changes its strategy and seeks to regain market share after years of cuts.”
The fuel prices to a drop shortly?
This could also allow “Weave good relations with the United States of Donald Trump”according to the analyst. We know that the president requests an increase in oil production. This is to drop prices and promote consumption for businesses and citizens.
This new increase in production could therefore play on courses and Reduce them again in the future. Which could have Purchase prices repercussions. It remains to be seen how it will evolve.
Recall that the Brent oil price (one of the references) is Under the 60 dollars at present. The barrel sells for $ 59.03. A score at the lowest since … the beginning of 2021, according to the Barrel price site! A trend that is felt on fuel prices, with a diesel at 1.55 €/L and a SP95-E10 petrol at € 1.66/L, according to data from the Ministry of Ecological Transition.
Fuel prices between April 18 and 25
(Prix of April 18 / Price of April 25)
- Diesel – 1,5281 / 1,5531 € / l
- SP95 -E10 -1.6326 / 1.6603 € / L
- SP95 – 1.6717 / 1.7008 € / L
- SP98 – 1.7415 / € 1.7615
- Join Auto-Moto on WhatsApp to not miss anything in auto and 2-wheeled news!
Also read on auto-moto.com:
Podcasts at the
MEN LIFE
To summarize
Eight OPEC+ countries (oil producers and exporters) will further increase the rate of oil production. This could drop already low oil lessons … and feel on prices at the pump for motorists.
