OPEC+ to Gradually Increase Production by April 2025

OPEC+ has decided to gradually increase oil production starting April 2025, despite President Donald Trump's calls to lower crude prices by boosting output. The coalition, led by Saudi Arabia and Russia, has been withholding oil supplies to prevent a surplus and sustain market prices, reflecting strong market fundamentals and expected demand recovery. Trump has repeatedly urged OPEC+ for more aggressive production increases, partially due to concerns over high oil prices sustaining the Russia-Ukraine conflict. However, the group remains focused on maintaining market stability and compliance with existing cuts. As part of a procedural update, OPEC+ replaced the U.S. Energy Information Administration with new consultants for monitoring production compliance, citing communication issues rather than political motives. The decision comes amid rising U.S. oil inventories and trade tensions, which continue to exert pressure on oil prices.