
Stats and Facts!
February 17, 2025 at 04:55 PM
As of February 17, 2025, OPEC+ is not considering delaying the planned monthly oil supply increases set to begin in April, according to Russian Deputy Prime Minister Alexander Novak. Despite reports suggesting a postponement in response to U.S. President Donald Trump's calls to lower oil prices, three OPEC+ delegates confirmed there had been no such discussions. One delegate noted that the oil market might absorb the additional supply due to higher Chinese demand and stronger sanctions, although it remains uncertain. The organization had previously agreed to an extension of production cuts of 5.85 million barrels per day through Q1 2025, with plans to begin raising output in April. The increase involves unwinding 2.2 million bpd of cuts and includes monthly hikes until September 2026. The final decision on the hike is anticipated by early March.
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