JOURNAL ARTICLE

OPEC‐plus extends cuts, risks losing further market share as US expands.

  • Published In: Oil & Energy Trends, 2025, v. 50, n. 1. P. 3 1 of 2

  • Database: Business Source Ultimate 2 of 2

Abstract

The article discusses OPEC-plus's recent decision to extend production cuts in an effort to stabilize global oil prices, which have remained weak despite these measures. The group postponed the rollback of 2.2 million barrels per day (b/d) of voluntary cuts to April 2025 and extended existing cuts until the end of 2026. Despite these efforts, demand forecasts for 2024 and 2025 have been reduced, and the International Energy Agency (IEA) predicts a supply overhang due to rising non-OPEC production, particularly from the United States. Compliance issues within OPEC-plus, particularly from countries like Iraq and Kazakhstan, further complicate the group's ability to manage market dynamics effectively. [Extracted from the article]

Additional Information

  • Source:Oil & Energy Trends. 2025/01, Vol. 50, Issue 1, p3
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2025
  • ISSN:0950-1045
  • DOI:10.1111/oet.13150
  • Accession Number:186836617
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