OPEC+ Sticks to Production Increase Schedule Amid Trump’s Pressure
Analysts see OPEC+'s decision as a sign of caution amid market uncertainties, including U.S. tariffs on key trade partners.
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) confirmed on Monday that it will stick to its plan to gradually increase oil production starting in April, despite pressure from U.S. President Donald Trump, who is pushing for lower prices.
The alliance “reaffirmed its commitment” to the plan announced in December, according to a statement released after a meeting of the Joint Ministerial Monitoring Committee.
Under the current plan, an initial tranche of 2.2 million barrels per day will be gradually reintroduced to the market beginning in April, with an additional 120,000 barrels per day added each month over 18 months.
OPEC+ Decision on Production
OPEC+ had previously delayed the reintroduction of these volumes multiple times. These volumes correspond to additional voluntary production cuts agreed upon by eight countries, including Saudi Arabia and Russia, the key pillars of OPEC+.
The decision not to extend the timeline this time—despite oil prices hovering around $75 per barrel—came after Trump publicly called on OPEC+ to boost production to lower prices.
“I’m going to ask Saudi Arabia and OPEC to bring oil prices down,” Trump said on January 23 in an online address to the World Economic Forum in Davos.
Analysts see OPEC+’s decision as a sign of caution amid market uncertainties, including U.S. tariffs on key trade partners, new sanctions on Russia’s energy sector, and economic challenges in China and Europe.
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