Reported 3 days ago
OPEC+ is considering postponing planned monthly supply increases set to begin in April, despite pressure from US President Trump to lower oil prices. Delegates indicate that the global oil market remains too fragile for a supply increase, as many OPEC members struggle with insufficient prices to cover government expenditures. The group, which seeks to gradually restore 2.2 million barrels per day by late 2026, has already delayed its production revival plans three times due to slowing demand in China and increasing supplies in the Americas. Final decisions may be made in the coming weeks, with analysts suggesting the current supply-demand balance does not support additional oil.
Source: YAHOO