OPEC+ is considering postponing the planned increase in oil production in April due to global market instability, despite US calls to lower prices. No final decision has been made yet, discussions are ongoing and may conclude in the coming weeks. If production is not increased by 120,000 barrels per day, this will be the fourth postponement of plans to restore volumes that have been reduced since 2022. The alliance aims to achieve production growth of 2.2 million barrels per day by the end of 2026. At a price of about $74 per barrel, many OPEC member countries are having difficulty covering budget expenditures. The Secretary General of the organization said that all decisions will be made taking into account the long-term consequences. The OPEC report also noted that the introduction of US trade duties could create an imbalance in the market and increase its volatility. Initial plans to increase production, announced in June last year, have been postponed three times due to weak demand in China and rising supplies in America. According to the International Energy Agency, supply already exceeds demand by 450,000 barrels per day. Analysts' forecasts suggest a decline in oil prices to $60 per barrel by the end of 2025.
