Riyadh, Moscow and the other six OPEC+member states, which began to reopen oil valves in April, announced a new major increase in production today.

They will extract an additional 411,000 barrels of oil from the Earth a day, as in May and June, according to one announcement, the three times the amount originally provided.

In addition to Saudi Arabia and Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman have agreed in recent years in additional voluntary reductions of a total of 2.2 million barrels per day to raise prices.

They had decided at the beginning of the year a gradual return, but in the spring they decided to accelerate the pace. This cruise change has caused black gold prices to about $ 60 a barrel, the lowest level of the last four years.

OPEC+ “hit three times: in May it was a warning, in June a confirmation and in July a warning shot,” commented Jorge Leon, an analyst by Rystad Energy.

“The range of increased production shows more than the internal potential of supply,” he estimates. “This is a strategic normalization with geopolitical targeting: Saudi Arabia seems to succumb to Donald Trump’s demands.”

Shortly after taking up his duties, the US president asked Riyadh to produce more in order for black gold prices to fall and therefore prices on the pump for consumers.