Dream Petroleum
01 Jun 2026

New Production Decision from OPEC+

OPEC+ countries have decided to increase production by 188,000 barrels per day as of June 2026 in order to support stability in global energy markets. The decision was announced following a meeting held by Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman.

This development is being closely monitored by the markets following recent geopolitical tensions, supply disruptions, and uncertainties in global energy trade.

Impacts on Oil Prices

Even though a production increase decision has been made, risks on the supply side in the global oil market continue. Oil prices remain at high levels, particularly due to geopolitical developments in the Middle East and logistical issues experienced in key energy corridors.

Market experts predict that Brent crude oil prices will continue to remain strong throughout 2026 and volatility in energy markets will persist.

What Does It Mean for the Base Oil Sector?

Crude oil prices are considered a significant cost element for base oil producers, lubricant blenders, and international trading companies.

Although the production increase will theoretically provide additional supply to the markets;

  • No significant decrease is expected in Group I base oil prices in the short term.
  • Prices for SN150, SN500, and Bright Stock products are anticipated to remain strong.
  • In Group II products, regional differences may be observed depending on refinery production schedules.
  • Freight costs and geopolitical risks will continue to be decisive factors in pricing.

Assessment in Terms of the Turkish Market

Turkey meets a significant portion of its base oil requirements through imports. Therefore, every development in international oil markets directly reflects on costs.

Securing supply and correct purchasing strategies have become more critical than ever in 2026, especially for industrial oils, motor oils, and process oils manufacturers.

Dream Petroleum's View

As Dream Petroleum, we closely follow the developments in global energy markets and continue to offer sustainable and reliable supply solutions to our customers.

In the upcoming period, OPEC+ decisions, geopolitical developments, and refinery operations will continue to determine the direction of base oil markets. Therefore, it is of great importance for industry stakeholders to closely monitor market dynamics.


Dream Petroleum Ltd. 
Your Trusted Partner in Base Oils & Petroleum Products