In a note released on Friday, OPEC+ revised its forecast for oil production, expecting output for the three months starting in December to rise from October.
OPEC+ announced on Thursday that it has decided to postpone a planned increase in oil production until October and November, following crude prices that hit a nine-month low. If necessary, the producer team can modify the hikes.
However Brent kept its crude forecast at $74 per barrel in December 2025, with a range of $70-85 per barrel.
The investment bank expects benefits from a slight reduction in OPEC+ supply to be offset in the coming months by current softening impacts on demand from China and supplies from Libya sooner than expected.
