OPEC+ Eyes September Hike Amid LNG Growth Concerns

OPEC+ is set to vote on raising oil production by an additional 188,000 barrels per day (bpd) in September, as part of its planned roll-out of voluntary production cuts announced in 2023. This move would bring the total increase to 1.65 million bpd.

However, sources indicate that OPEC+ may pause further output increases from October through December, leaving roughly 2 million bpd of broader production cuts in place. This could reduce spare capacity available to meet potential shortfalls in the future.

The natural gas market is bolstered by the expansion of liquefied natural gas (LNG) infrastructure, with global LNG trade reaching an all-time high in 2025. Mexico's new Energia Costa Azul terminal has added 0.4 billion cubic feet per day (Bcf/d) to global capacity.

Natural gas prices remain bearish below $2.756, with support levels at $2.648 and $2.589. WTI crude oil is testing the pivot point at $82.89, where 50-EMA ($83.72) and 100-EMA ($83.37) are located.