OPEC+ Delays Return of Production Cuts By Three Months - In a largely anticipated move, OPEC+ announced it would postpone the easing of its production cuts for another quarter and only start bringing back some of its 2.2 million b/d of voluntary cuts from April 2025. - In what seems to be a diplomatic win for Saudi Arabia, even the United Arab Emirates agreed to delay a 300,000 b/d hike to their production baseline, phasing in the subsequent increase over the remaining months of 2025.
- OPEC+ has signaled it would be managing oil supply in the…The U.S. Hybrid Vehicle Market Is Booming
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