03.03.2025, 22:24
OPEC+ countries to increase oil production
Source: OREANDA-NEWS
OREANDA-NEWS OPEC+ countries have confirmed plans to start increasing oil production from April 1, 2025, according to the alliance's communique.
"Taking into account healthy market fundamentals and positive prospects, they (OPEC+ countries - ed.) confirmed their decision, agreed on December 5, 2024, on a gradual and flexible return of voluntary reductions in the amount of 2.2 million barrels per day, starting from April 1, 2025," the statement said.
In addition, the UAE, as planned, will increase production under the OPEC+ quota by 300,000 barrels per day from April 2025 to September 2026.
"Taking into account healthy market fundamentals and positive prospects, they (OPEC+ countries - ed.) confirmed their decision, agreed on December 5, 2024, on a gradual and flexible return of voluntary reductions in the amount of 2.2 million barrels per day, starting from April 1, 2025," the statement said.
In addition, the UAE, as planned, will increase production under the OPEC+ quota by 300,000 barrels per day from April 2025 to September 2026.
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