Friday, May 30, 2025

Latest

OPEC+ Signals Resistance to Trump’s Price Demands

OPEC+ delegates are evaluating whether to delay planned output increases, citing weak market conditions, despite US President Donald Trump’s pressure for lower oil prices.

Trump has urged OPEC to “cut the price of oil” and increase production as part of his energy agenda. However, the producer group remains guided by market conditions rather than political requests, delegates who asked not to be identified told Bloomberg.

The group’s internal dynamics face a fresh test after Saudi Arabia and Russia questioned Kazakhstan’s January production spike. Kazakh officials defended the increase as a “temporary one time testing” exercise, but the explanation has drawn skepticism.

In response, Kazakhstan’s Energy Minister Almassadam Satkaliyev initiated discussions with Saudi Energy Minister Prince Abdulaziz bin Salman and Russian Deputy Prime Minister Alexander Novak. Kazakhstan joins several other members struggling to meet their agreed production targets.

Oil market analysts paint a challenging picture for 2025. The International Energy Agency sees supplies outpacing demand by 450,000 barrels daily this year. Investment banks JPMorgan Chase & Co. and Citigroup Inc. suggest prices might drop into the $60s per barrel range by year-end.

With oil trading at $74 per barrel, many OPEC+ nations can’t meet their budget requirements. According to OPEC expert Amena Bakr, the group’s strategy is clear: “At its core, it remains focused on market management, not political posturing. That includes keeping Russia firmly inside the alliance to maintain maximum clout over global supply.”

The alliance aims for a cautious approach to restoring output. “I guess Trump won’t be happy, but OPEC+ would surely be right to hold their fire,” said Neil Atkinson, former head of the IEA’s oil markets division. “The market doesn’t really have room for more oil.”

The current plan envisions returning 2.2 million barrels per day through incremental monthly increases until late 2026. While Russian Deputy Prime Minister Novak maintains this schedule remains intact, formal discussions about potential delays haven’t begun.

Current market prices reflect ongoing weakness, with West Texas Intermediate near $71 and Brent just above $75. Chinese demand growth has slowed while supplies from the Americas have increased, forcing OPEC+ to postpone its restoration plans three times already.

Meanwhile, OPEC’s Vienna-based secretariat warned that US trade tariffs could introduce additional market uncertainty and destabilize supply-demand relationships.


Information for this story was found via Bloomberg, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

First Majestic Makes Second Major Discovery At Santa Elena In Just A Year

Related News

Trump Indictment: ‘Home Alone 2: Lost in New York’ Star Faces up to 100 Years Behind Bars Over Classified Document Retention

According to Friday’s freshly unsealed 37-count indictment, former president Donald Trump has been allegedly hoarding...

Saturday, June 10, 2023, 09:00:00 AM

“You’re Fired!” Trump Abruptly Removes 12 Inspectors General, Sidesteps 30-Day Rule

Reminiscent of his past life as a reality TV host, US President Donald Trump has...

Monday, January 27, 2025, 11:17:00 AM

Donald Trump Wants Elon Musk To Spearhead Cutting “Trillions” in Government Spending

Former U.S. President Donald Trump unveiled a significant proposal during a speech on Thursday at...

Friday, September 6, 2024, 02:07:00 PM

Kevin O’Leary and Grant Cardone Opt Out Of New York After Donald Trump’s $355 Million Fraud Verdict

Former FTX spokesperson and “Shark Tank” investor Kevin O’Leary has a lot of feelings about...

Thursday, February 22, 2024, 11:01:00 AM

Storms Disrupt Uranium Mining Operations in Kazakhstan, Impacting Global Supply

Severe storms in southern Kazakhstan have disrupted operations at multiple uranium mines, including the crucial...

Saturday, April 27, 2024, 07:21:00 AM