He oil Thursday has fallen by the debate within the Organization of oil exporting countries (OPEC) and its alliesthe group known as OPEC+to carry out a New production increase in July. To execute, it would be Third consecutive increase After the agreed movements for May and June. In this sense, the barrel Brentof reference in Europe, 1.26%has been left to $ 64.09; while the West Texas Intermediateof reference in the US, has dropped 1.23%, to quote $ 60.81. Based on the information advanced by 'Bloomberg', the cartel has on the table raise crude oil in 411,000 barrels per day for July, triple the initially planned amount. However, and although it is one the options that are being discussed, a definitive agreement has not yet been reached. In any case, it is expected to make a decision at the meeting on June 1. «The OPEC+ is considering a third consecutive increase in production in July, with an increase of 411,000 barrels per day among the options that are considered when the commission meets on June 1. Our base scenario foresees that World oil markets will record an excess supply of approximately 1.1 million barrels per day By the end of the year. We believe that the average Brent price will be $ 63 per barrel during the last three quarter of 2025, although this should be considered as a forecast range between 55 and 72 dollars, «Rabobank analysts value. Thus, it should be remembered that the OPEC+ announced in April that I was adding to the market 411,000 barrels per day in Maywhich surprised investors when they are above expectations. Similarly, in May it communicated a Increase in the production of another 411,000 barrels per day (BPD) in June. In fact, and despite the fact that OPEC+ has stressed that supply increases aim to meet demand, internally, in the cartel they offer a variety of reasons, ranging from punish members with overproduction until Recover market share and Appeal President Donald Trump. Moreover, the group leader, Saudi Arabiaalready warned in the last meeting to breach members as Kazakhstan and Iraq that could achieve new production increases unless they meet their quotas. Despite some compensation promises, the kazakhs have made few efforts to stop international oil companies operating in the country and continue to export near record levels. On the other hand, the crude oil inventories They have risen at 1.3 million barrels, to 443.2 million barrels, during the week that ended on May 16. Analysts expected a reduction of 1.3 million barrels.
