Goldman Sachs expects increase in OPEC+ oil production by 550,000 bpd in September

According to Goldman Sachs’ estimates, OPEC+ will increase its oil production quota by 550,000 barrels per day in September. This move will allow the alliance to complete the phased return of the voluntary production cuts, bringing 2.2 million barrels per day back to the market. Analysts say the decision is justified by the organization’s goal of normalizing spare capacity amid steady demand for crude oil.

The bank’s forecast was released on Sunday, a day after OPEC+ agreed to boost output by 548,000 barrels per day in August. As a result, oil production growth has accelerated again following recent price volatility triggered by escalating tensions in the Middle East.

In an official statement, Goldman Sachs representatives emphasized the importance of the decision. They believe the current adjustments in production will lead to long-term market balance and strengthen cohesion among member countries.

The bank also maintained its price forecast for Brent crude at $59 per barrel for the fourth quarter of this year. For 2026, the company expects the price of oil to hover around $56 per barrel.