OPEC+ has agreed to boost oil production by 548,000 barrels per day starting September 2025, potentially lowering global prices and offering relief to fuel-dependent economies like Ghana.
The move reverses 2023 supply cuts and aims to reclaim market share amid recovering demand, with Brent crude currently near $70 per barrel.
For Ghana which imports most of its fuel the increase could translate to reduced pump prices, easing transport costs, inflation, and pressure on the cedi. However, experts warn geopolitical volatility could undermine stability. Former U.S. President Donald Trump’s threat of sanctions on Russian oil buyers, if enacted, might abruptly reverse price trends.
While the decision signals short-term optimism, Ghana’s fuel market remains vulnerable to external shocks. The government and businesses must navigate fluctuating global dynamics to sustain domestic benefits.