OPEC+ Holds Firm on April Output Plan Despite Trump's Call for Lower Oil Prices

U.S. President Trump urges OPEC+ to reduce oil prices, but the group cites its existing plan for gradual production increases starting in April 2025.

President Trump announced he would ask Saudi Arabia and OPEC+ to lower oil prices, a request he frequently made during his first term.
OPEC+ delegates affirmed their commitment to a pre-existing plan to raise oil output starting in April 2025, citing long-term market stability.
Saudi Arabia's Economy Minister emphasized OPEC's focus on ensuring sufficient supply to meet growing demand rather than targeting short-term price changes.
Oil prices, which recently peaked at $83 per barrel due to concerns over U.S. sanctions on Russia, have since dropped to below $79 per barrel.
OPEC+ will review its production policy in February, with a decision on the planned April output increase expected in early March.