OPEC+ turns to a slower pace of production increases

Limited ability to deliver on higher targets across the bloc

OPEC+ countries have agreed to increase oil production in October by 137k b/d, a significant slowdown from the previous monthly increases of around 400-550k b/d since May 2025.
Saudi Arabia's production target for October is set at 10.02m b/d, the first time it will produce 10m b/d or more since April 2023, while the UAE's target is 3.39m b/d.
Higher oil production from OPEC+ countries is expected to support GDP growth in GCC economies, with oil prices forecasted to hold close to USD 65/b for the remainder of 2025 and into 2026.