Ideas Markets Events Research
Close
search
Ideas
Markets
Events
Research
Nothing found
Select a section for which the search will be carried out
10 June 2025 | Oil

Saudi Arabia heightens competition on oil market — Bank of America

Brent
WTI Light Crude Oil
Saudi Arabia heightens competition on oil market — Bank of America

According to recent statements by Bank of America Corp's Head of Commodities Research, the OPEC+ alliance's oil production increase, including Saudi Arabia's participation, could intensify market competition. The expert believes the key motive behind these changes is the group's ambition to reclaim its share of the energy market.

Last month, the oil-producing alliance—de facto led by Saudi Arabia—announced its third production boost exceeding 400,000 barrels per day, surpassing previously planned volumes.

Francisco Blanch of Bank of America suggests this OPEC+ move represents a deliberate, long-term strategy primarily designed to pressure higher-cost US shale producers. The approach already shows results: Baker Hughes Co. data reveals US active rig count has plunged to a four-year low.

Elizaveta Kuzmicheva MarketCheese

Recommended

United States. CFTC Crude Oil speculative net positions. The value of the indicator has increased from 58.1K to 78.8K
Yesterday at 8:30 PM
United States. U.S. Baker Hughes Oil Rig Count. The value of the indicator has increased from 410 to 411
Yesterday at 6:04 PM
United States. U.S. Baker Hughes Total Rig Count. The value of the indicator has increased from 543 to 544
Yesterday at 6:03 PM
United States. Cushing Crude Oil Inventories. The value of the indicator has increased from 0.745M to 1.478M
22 January
United States. Crude Oil Inventories. The value of the indicator has increased from 3.391M to 3.602M
22 January
Top news
European Union. Manufacturing PMI. The value of the indicator has increased from 49.2 to 49.4
Yesterday at 9:01 AM
Japan. BoJ Interest Rate Decision. The value of the indicator remained at the same level of 0.75%
Yesterday at 3:09 AM
United States. PCE price index (YoY). The value of the indicator has increased from 2.7% to 2.8%
22 January
United States. Core PCE Price Index (YoY). The value of the indicator has increased from 2.7% to 2.8%
22 January
United States. GDP (QoQ). The value of the indicator has increased from 4.3% to 4.4%
22 January
All news

Forecasts

AUDCAD buy
Period: 30.01.2026 Expectation: 600 pips
AUDCAD trend holds firm on upbeat Australian reports
Technical analysis TA Other FA Other Indicators Fundamental analysis
Yesterday at 11:16 AM 37
Lyra_Moonwell1
Lyra_Moonwell1
Listed among the best MarketCheese authors
1st in the segment "Oil and gas"
Brent sell
Period: 30.01.2026 Expectation: 100 pips
Brent's rally stalls as upside is limited by $65–$66 resistance
FA Other Chart analysis Indicators
Yesterday at 10:17 AM 45
John_Bullard
EURUSD buy
Period: 28.02.2026 Expectation: 3000 pips
Buying EURUSD on weak US GDP print
Indicators and reports Chart analysis
Yesterday at 10:04 AM 32
Bruce_Powers
GBPUSD sell
Period: 30.01.2026 Expectation: 1110 pips
GBPUSD’s rally is capped despite eased geopolitical stress
Indicators and reports Technical analysis FA Other Indicators Fundamental analysis
Yesterday at 08:50 AM 17
Emily_Foster
Natural gas sell
Period: 29.01.2026 Expectation: 690 pips
NG selloff targets $4.400 ahead of reaching local high
Technical analysis TA Other FA Other Indicators Fundamental analysis
22 January 2026 52
Lyra_Moonwell1
Lyra_Moonwell1
Listed among the best MarketCheese authors
1st in the segment "Oil and gas"
ETHUSD buy
Period: 29.01.2026 Expectation: 15200 pips
Investing in ETHUSD up to $3,170 on US-EU trade relief
Indicators and reports Technical analysis FA Other Indicators Fundamental analysis
22 January 2026 51
Emily_Foster
Go to forecasts