+ kept his production plans unchanged during today’s meeting (03.02.2025), despite the call of US President Donald Trump, to reduce the prices of the slow. The meeting of key OPEC+ members led by Saudi Arabia and Russia retained plans to maintain the holding of crude oil supplies for the remainder of the quarter and then gradually restore production on a monthly basis from April 2025, according to a Bloomberg report. CORVERSE The coalition holds barrels for more than two years to prevent surplus occurrence and has already delayed its production increase three times in an attempt to support prices. “Despite some doubts, the fundamental market sizes remain strong, as economic growth recovery indicators appear in several areas,” the Algerian Ministry of Energy, a member of OPEC, said in a communication. “We expect a greater recovery in demand for oil than next April, after seasonal slowdown in the first three months of the year”. There was no discussion about Trump’s request for more oil, according to the same report. Instead, the meeting of the Joint Ministerial Monitoring Committee focused on the compliance of Member States with existing production cuts and the compensation for past overproduction, the representatives said.
OPEC: Keeps oil supply unchanged despite Trump’s call to reduce prices
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