Numbers Report – August 01, 2025

In the latest edition of the Numbers Report, we will take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers. 

Let’s take a look. 

OPEC+ to Finish the Unwinding Job with September Superhike 

Following the joint ministerial monitoring committee meeting last week, eight leading members of OPEC+ will be meeting on Sunday (August 3) to decide on the last tranche of the 2.2 million b/d voluntary cuts. The market expectation is that the oil group will approve another expedited 548,000 b/d production hike for September, marking the end of voluntary cuts from the ‘Great Eight’ including Saudi Arabia, Russia and the UAE.Whilst OPEC+’s decision was initially met with scepticism as adding further barrels into an already oversupplied market seemed a wild idea, prices are currently the same ($68 per barrel for WTI) as they were on March 4 when the first step towards unwinding was taken.  Some industry watchers believe the OPEC+ unwinding is mostly internal housekeeping of production quotas as almost all leading producers were overproducing their initial targets. Saudi Arabia’s crude exports were only 200,000 b/d higher last month than in July 2024, at 5.8 million b/d.  LNG Canada, We Have a Problem

Canada’s claim to become a major LNG exporter, the $40 billion LNG Canada developed by Shell,…