<ul data-eligibleForWebStory="false"><li>OPEC+ surprised the oil market by increasing oil production for August by 548,000 bpd instead of the expected 411,000 bpd, citing a positive global economic outlook and low oil inventories.</li><li>The decision reflects OPEC's shift from defending oil prices to regaining market share, potentially causing short-term revenue losses to stabilize prices and challenge U.S. shale growth.</li><li>The accelerated unwinding of production cuts is influenced by a desire to maintain good relations with President Trump and to leverage strong summer demand before a potential glut in the future.</li><li>Despite concerns of oversupply in the future, oil prices did not drop significantly post-decision, indicating temporary market stability and ongoing geopolitical factors at play.</li></ul>

Why OPEC+ Is Pumping Fast and Playing Hardball

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