S&P Global expects the Organization of the Petroleum Exporting Countries and its allies, the group known as OPEC+, to start increasing production for the first time in a couple of years in 2025, an S&P Global executive told a conference on Monday.

“There’s a lot of pressure in some of these countries to increase production, and again, some are already producing above,” Jim Burkhard, vice president of research at S&P Global Commodity Insights, told the APPEC conference.
Source: Reuters (Reporting by Florance Tan, Writing by Katya Golubkova; Editing by Kim Coghill)