OPEC+ Maintains production Plans Amid Political Tensions and Source List Overhaul
The OPEC+ group has reaffirmed its commitment to gradually increasing oil production starting April 2025, while also making important changes to its list of secondary sources used to assess member states’ production. this decision comes amid ongoing political tensions and internal adjustments aimed at maintaining stability in the global oil market.
Clash with Trump Resurfaces
The group has once again found itself at odds with former U.S. President Donald Trump. During his first term (2016–2020), OPEC+ clashed with Trump over calls to increase production to offset declines in Iranian supplies due to U.S. sanctions. Recently, Trump urged the group to lower oil prices, claiming that their rise has aided Russia in continuing its war in Ukraine.
Russian Deputy Prime Minister alexander Novak confirmed that the OPEC+ joint ministerial committee discussed Trump’s request but ultimately decided to stick to its existing plans. “The committee agreed to start raising production gradually from the beginning of next April, in line with its previous plans,” Novak stated.
Overhaul of secondary Sources
In a significant move,OPEC+ has revised its list of secondary sources used to evaluate member states’ crude oil production. The group removed the U.S. Energy Information Governance (EIA) and replaced it with “Kepler,” “AX,” and “ESA.” A source within OPEC+ clarified that the decision was not politically motivated, stating, “The deletion of the energy information Administration was due to not providing an explanation about the required information.”
A spokesperson for Restad Energy, one of the removed entities, acknowledged the change, saying, “We understand that it is common to use different data providers regarding this specific aspect of our services.”
Production Cuts and Future Plans
Currently, OPEC+ is reducing production by 5.85 million barrels per day, accounting for approximately 5.7% of global supplies. This reduction, initiated in 2022, is part of a broader strategy to stabilize the market.
According to the current plan, the group will begin phasing out a reduction of 2.2 million barrels per day starting April 2025, with increases continuing until September 2026. The final decision on the april increase is expected to be made in early March 2025, following previous practices.
Key Points at a Glance
| Aspect | Details |
|—————————–|—————————————————————————–|
| Production Increase | Gradual increase starting April 2025 |
| Current cuts | 5.85 million barrels per day (5.7% of global supplies) |
| Future adjustments | 2.2 million barrels per day phased out by September 2026 |
| Secondary Sources | EIA removed; Kepler, AX, and ESA added |
| Political Tensions | Clash with Trump over oil prices and production |
looking Ahead
As OPEC+ navigates these changes, the group remains focused on balancing market stability with geopolitical pressures.The upcoming months will be critical as the final decisions on production adjustments are made, shaping the future of global oil markets.
