Catodes are the values of oil Today Monday (4.8.2025), following the decision of OPEC+ To make a significant increase in production in September, although investors remained cautious about imposing further sanctions on Russia.
Brent oil contracts fell 2.66%to $ 64.82 a barrel, while US Slow Texas Intermedia (WTI) fell 82 cents, or 1.2%to $ 66.51 a barrel. Both contracts closed about $ 2 lower on Friday (1.8.2025). OPEC+agreed yesterday to increase oil production by 547,000 barrels a day for September, the last in a series of accelerated increases in market share.
This move, according to market expectations, marks a complete and premature reversal of the largest portion of OPEC+production cuts, which amounts to about 2.5 million barrels a day, or about 2.4% of world demand.
Goldman Sachs analysts expect that the actual increase in supply from the eight OPEC+ countries that have increased production since March will be 1.7 million barrels per day, because other members of the group have reduced production after having previously over -scratched.
Investors have also continued to digest the impact of the latest US duties on exports from dozens of commercial partners.
However, investors remain skeptical of further US sanctions in Russia, as Trump has threatened to impose 100% secondary duties on Russian crude buyers as he seeks to push Moscow to stop his war in Ukraine.
At least two ships loaded with Russian oil intended for refineries in India have been diverted to other destinations after new US sanctions, commercial sources said Friday and LSEG’s trade flows have shown.
This is at risk of about 1.7 million crude commission barrels if Indian refineries stop buying Russian oil, Ing analysts said. However, two Indian government sources told Reuters on Saturday (2.8.2025) that the country will continue to buy oil from Russia despite Trump’s threats.