OPEC+ Committee Makes No Recommendation to Oil Output Policy -- Market Talk

Dow Jones

2025/02/03

1419 GMT - Top OPEC+ ministers made no recommendations to change the current oil output policy at a monitoring meeting on Monday despite U.S. President Trump's calls to bring down the price of oil. The group is set to gradually raise output from April, after having pushed back its plans multiple times due to weaker global demand and rising supply. Countries producing above the set quotas will submit their updated compensation schedules before the end of the month. The committee also said it replaced the Energy Information Administration and Rystad Energy with Kpler, OilX, and ESAI as secondary sources used to assess oil production of OPEC+ members. (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

February 03, 2025 09:25 ET (14:25 GMT)

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