OPEC+ Won't Change Oil Production Plans

OilPrice · Tsvetana Paraskova · last updated February 3, 2025 – 4:27 AM

Despite pressure from President Trump and a recent rise in oil prices, the OPEC+ group has said it won’t change its current plan to begin gradually unwinding the cuts from April. The Joint Ministerial Monitoring Committee (JMMC), the OPEC+ panel reviewing policy and markets and potentially recommending actions to the group’s ministers to take, made its decision during its Monday meeting. No changes had been expected after anonymous delegates to Reuters ahead of the JMMC meeting. The JMMC, the panel that takes stock of oil market developments…

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