OPEC+ Is Shaking Things Up Again: What It Means For You And The Global Economy

By Success Dedevwo

5th August, 2025

The Power Player Behind The Oil Market
Imagine a group of countries that produce the most oil in the world forming a club to decide how much oil to put on the market. That’s OPEC+ a group of 23 countries, including oil giants like Saudi Arabia, Russia, and Iraq. Their goal? To control oil supply so prices don’t crash or skyrocket.

When COVID-19 hit in 2020 and nobody was flying or driving, oil demand dropped hard, and prices collapsed. To stop the bleeding, OPEC+ cut back on how much oil they pumped, which helped prices bounce back. For years now, they’ve used that strategy: if prices drop, they pump less. If prices rise too much, they pump more.

OPEC+ Makes It’s Next Move
In August 2025, OPEC+ made a surprising move: instead of keeping their oil limits, they announced they would increase oil production by over 547,000 barrels a day starting September.
They’ve already been slowly increasing output month by month since April, and now they’re speeding things up.
The reason? They’re shifting focus. Instead of trying to keep oil prices high, they now want to protect their market share, that is, make sure they’re still one of the top suppliers globally, especially with U.S. shale oil and renewable energy becoming more popular.
“Given fairly strong oil prices at around $70, it does give OPEC+ some confidence about market fundamentals,” said Amrita Sen, co-founder of UK-based energy consultancy Energy Aspects, in response to the decision.

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How This Affects Oil Prices and You
You might expect that more oil means cheaper fuel, right? That’s usually true. But here’s what’s making things complicated:
Oil prices haven’t crashed yet even with this announcement. Why? Because:

Some experts think OPEC+ might not actually deliver all the promised oil due to technical or political reasons.
There’s still tension between Russia and Western countries, and possible U.S. sanctions could shake up oil supply again.

“The significant increase in OPEC supplies is weighing on the market,” commented Andrew Lipow, President of Lipow Oil Associates, as prices dipped slightly.
Currently, Brent crude oil, one of the major global benchmarks used to price oil worldwide is now around $67 per barrel, the lowest in over a month.
For regular people like you and me, this could mean cheaper petrol or diesel in the coming weeks but not dramatically, especially if Nigeria or other countries don’t adjust prices quickly.

Why OPEC+ Is Taking This Risk
This move is a gamble. By increasing supply, they could flood the market, which might lower prices too much and hurt their own earnings. But if they don’t act, they risk losing customers to American oil companies, which have been slowly creeping back into the game.
Russia, for instance, believes global oil reserves are lower than usual, so there’s space for more oil without causing surplus. Others disagree and say demand is already weaker especially with global economies slowing down.

What’s Next?
OPEC+ will meet again on September 7, 2025 to see how things are going. They might:
• Stick to the plan and keep boosting oil supply
• Pause and wait
• Or reverse the decision if things go sideways
This next meeting will be a big deal for the oil market and for the fuel in your tank.

Final Word
OPEC+ is playing a tightrope game; trying to balance between keeping oil prices stable and fighting to remain the top dog in the energy world. Whatever happens, this decision will ripple through the global economy.
For now, watch the pump, the next few months might bring some relief… or another twist.

Sources:
Reuters: OPEC+ output rise
FT: OPEC market share strategy
MarketWatch: Global oil tug-of-war
Euronews: OPEC’s September move