That won’t make Trump too happy as he wants lower oil prices. The report says that the bloc is viewing that the oil market remains “too fragile” in order to revive production now. That said, no final call has been made on the matter and members are believed to be split on how to proceed. A decision may only be finalised in the coming weeks.
If the can is kicked down the road, that will be the fourth delay to this supposed 120k bpd increase. As a reminder, this was all part of the production stoppage that began back in 2022.