Opec+ will add 400,000 barrels/day in June—its second monthly hike, bringing Q2 increases near 1 million barrels/day
Brent crude fell to $61/barrel and may dip further. Markets question if this signals a shift in Opec’s price strategy
Riyadh warned overproducing members like Iraq and Kazakhstan to comply—or face price penalties through more output
Quota violations are common in Opec. Saudi leverage comes from spare capacity, used to discipline non-compliant members
Analysts say lower prices may be short-term. Once others comply, Riyadh could return to targeting $100/barrel
Cheaper oil helps India cut its current account deficit and inflation—if price benefits reach consumers