( ) -q-27- UNDATED (Correspondent Jeremy House) “course of 2025.” Eight members of the OPEC+ alliance of oil exporting countries have decided to put off increasing oil production. [CutID: <Cuts> OPEC+-OIL-PRODUCTION-house-q-THUam.mp3 Time: 27s Title: OPEC+-OIL-PRODUCTION-house-q-THUam Out-cue: course of 2025] TAG: Correspondent Jeremy House reporting. That process will now be pushed back until October 2026. OPEC+ […]
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OPEC+ oil producers’ alliance postpones production increases
( ) -q-27- UNDATED (Correspondent Jeremy House) “course of 2025.”
Eight members of the OPEC+ alliance of oil exporting countries have decided to put off increasing oil production.
[CutID: <Cuts> OPEC+-OIL-PRODUCTION-house-q-THUam.mp3
Time: 27s
Title: OPEC+-OIL-PRODUCTION-house-q-THUam
Out-cue: course of 2025]
TAG: Correspondent Jeremy House reporting. That process will now be pushed back until October 2026. OPEC+ includes Saudi Arabia as the dominant member of the OPEC producers’ cartel, and Russia as the leading non-OPEC member in the 23-country alliance.
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VERBATIM: The decision was made as the alliance faces weaker than expected demand and competing production from non-allied countries — factors that could keep oil prices stagnant into next year. The OPEC+ members decided at an online meeting to postpone by three months production increases that had been scheduled to take effect January 1. The plan had been to start gradually restoring 2.2 million barrels per day over the course of 2025.