based on materials from the site - By Cointribune EN

Saudi Arabia, Russia, and their partners in OPEC+ announced a coordinated increase in oil production by 547,000 barrels per day. This strategic decision disrupts the fragile balance of the global market and could further escalate geopolitical tensions amid the intensifying confrontation between Washington and Moscow.

OPEC+ is increasing production by 547,000 barrels per day, which accounts for 0.6% of global consumption.
Saudi Arabia and Russia are leading this initiative to regain market share.
Trump threatens new sanctions against Russia and its trading partners.
India maintains its imports of Russian oil despite US pressure.
Russia and Saudi Arabia want to regain control.
On Sunday, August 3, eight producing countries gathered under OPEC+ officially agreed to increase daily production by 547,000 barrels.

This decision, made jointly by Saudi Arabia and Russia, is part of a long-term strategy aimed at restoring market share lost due to previous restrictive measures.
This increase certainly constitutes only a small fraction of the 100 million barrels consumed daily worldwide. Nevertheless, it signals a significant paradigm shift. After years of sharp cuts aimed at maintaining high prices, oil giants are now prioritizing volumes over prices.

The immediate impact is already being felt in the markets. The price of Brent crude oil, the international benchmark, hovers around $70 per barrel. This level sharply contrasts with peak prices of $120 reached in the spring of 2022 during the Russian invasion of Ukraine.

For French consumers, this stabilization may keep gasoline prices at the current level: €1.62 per liter of diesel fuel and €1.66 per liter of gasoline.

The forward-looking vision of OPEC+ is based on rising demand until the middle of the century. This forecast directly contradicts the predictions of the International Energy Agency, which expects stabilization by 2030, particularly due to the widespread adoption of electric vehicles.

Geopolitical tensions are changing the balance of power in the energy sector.
The announcement of the creation of OPEC+ came in a highly unstable geopolitical context. Donald Trump recently hardened his tone towards Moscow, giving Russia 'ten days' to resolve the Ukrainian conflict.
This ultimatum is accompanied by specific threats: 'We will impose tariffs and other measures,' stated the American president.
Among the measures being considered is a 100% indirect surcharge on imports of Russian products, including hydrocarbons. This move is directly aimed at India, which has become the second-largest importer of Russian oil in the world by 2025, with a supply volume of 1.6 million barrels per day.

However, New Delhi is not yielding to pressure. The Indian government has clearly stated its determination to maintain energy relations with Moscow, asserting the priority of its strategic interests over American prohibitions.

This position illustrates the growing fragmentation of the global trading system, marked by the emergence of competing economic blocs such as BRICS and the weakening of the Western unilateral approach.

In the context of rapid restructuring, the outlook for the oil market is becoming increasingly murky. Changes in American trade policy, combined with ongoing geopolitical instability, are plunging the energy sector into a prolonged zone of turbulence.

It is in this tense environment that OPEC+ is making a significant strategic shift. The cartel's decision to increase production goes beyond a simple cyclical adjustment: it marks a political and economic offensive.

In this new game of influence, every barrel becomes a diplomatic lever, and every energy alliance is a declaration of sovereignty.

Overall, Russia, Saudi Arabia, and their allies want to maintain their central role in the changing global energy order. For them, it is no longer just about regulating the market but redefining the rules of the game in a deeply multipolar world.


$BTC , $XRP , $BNB

#Сryptomarketnews , #TrumpTariffs

Here, our subscribers will be the FIRST to learn about all the most interesting changes in the news agenda of the financial and cryptocurrency world. All in one news feed!!!

Welcome to us! There’s enough news for everyone!!! 😉