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Opec will gradually ease output restrictions over the next three months
Opec Saudi Arabia US Russia
Ian Simm
1 April 2021
Follow @PetroleumEcon
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Opec+ confounds market with three-month cuts easing

The group had been widely anticipated to keep the prior agreement in place, but a rapidly agreed deal will see cuts relaxed through the summer

The Opec+ group has yet again caught markets off-guard, agreeing on 1 April to a gradual easing of output restrictions over the next three months. This means the 7mn bl/d of collective production withheld through to the end of April will be reduced by 350,000bl/d in May, by the same amount in June and by another 450,000bl/d in July. Meanwhile, Saudi Arabia will also ease its additional voluntary 1mn bl/d cut by 250,000bl/d in May, 350,000bl/d in June and 400,000bl/d in July, bringing 2.15mn bl/d of oil production back online by mid-summer. “Our return of this voluntary cut, we will do it also gradually, mindful of how the market may react” – Abdulaziz, Saudi energy minister With memb

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Trump’s Russia threat rings hollow
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
US oil sector faces complicated path
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand

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