OPEC+ Could Pump More Oil in June, DNB Markets Says -- Market Talk

Dow Jones2025-04-24

0909 GMT - OPEC+ could boost production beyond current plans in June amid mounting tensions with Kazakhstan, according to DNB Markets. "Saudi Arabia and its allies will likely immediately launch a broad diplomatic push to convince Kazakhstan to comply with its OPEC+ target," energy analysts Helge Andre Martinsen and Tobias Ingebrigtsen say. "But if Riyadh fails to assert discipline that way, it could try to compel Kazakhstan and other errant OPEC+ members to fall in line by flooding the market with more oil, effectively launching a price war." Kazakhstan's crude production stood at 1.82 million barrels a day in March, 27% above its OPEC+ target, DNB says. OPEC+'s production plans for June will be decided on May 5. (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

April 24, 2025 05:09 ET (09:09 GMT)

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OPEC+'s production plans for June will be decided on May 5. 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OPEC+'s production plans for June will be decided on May 5. 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