OPEC+ to Begin Oil Production Increase in 2025

The OPEC+ group will begin adding supply to the market in 2025, for the first time since 2022, Jim Burkhard, vice president of research at S&P Global Commodity Insights, said at the Asia Pacific Petroleum Conference (APPEC) on Monday. “We think in 2025 for the first time in a couple of years, first time since 2022, OPEC+ will increase production,” Burkhard said at the conference in Singapore organized by S&P, as carried by Reuters. Last week, the OPEC+ alliance led by Saudi Arabia and Russia decided to delay the unwinding of…