Novak says OPEC+ not weighing delay to April oil supply hike

17/02/2025 Argaam
Russian Deputy Prime Minister Alexander Novak

Russian Deputy Prime Minister Alexander Novak 

Russian Deputy Prime Minister Alexander Novak rejected a media report claiming OPEC+ is considering postponing an oil supply increase set for April.

 

Speaking to Russia’s RIA news agency, Novak said the alliance is not discussing any delay in the planned monthly supply hikes.

 

Bloomberg earlier reported, citing sources, that OPEC+ was weighing a delay despite US President Donald Trump’s calls for lower oil prices.

 

Reuters sources said no discussions on postponing the supply boost have taken place so far.

 

One source noted that the market could absorb more supply due to tougher sanctions on certain countries and strong Chinese demand, supported by planned fiscal stimulus.

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