Oil Market Heading For Surplus In 2025 On Latest OPEC+ Output Hike

1. OPEC+ raised production by 548,000 bpd amid steady economic outlook. 2. Surplus of 500,000-600,000 bpd anticipated due to high non-OPEC output. 3. Analysts predict sub-$60 oil prices for Brent and WTI in coming months. 4. OPEC+ aims to increase market share by resuming production cuts unwinding. 5. U.S. oil production at record high, complicating market dynamics.