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OPEC+ sticks to oil policy, ditches US government data
Financial Express Kolkata
|February 04, 2025
OPEC+ AGREED TO stick to its policy of gradually raising oil output from April on Monday and removed the U.S. government's Energy Information Administration from the sources used to monitor its production and adherence to supply pacts.
OPEC+ and Donald Trump clashed repeatedly during his first administration in 2016-2020 when the U.S. President demanded it raise production to compensate for the drop in Iranian supply that resulted from U.S. sanctions.
Since returning to office in January, Trump has already called on the Organization of the Petroleum Exporting Countries to bring down prices, saying elevated prices have helped Russia continue the war in Ukraine.
This story is from the February 04, 2025 edition of Financial Express Kolkata.
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