Decisions made by the oil producer group OPEC+ are focused on long-term market stability rather than influencing prices, Secretary General Haitham Al-Ghais stated at the India Energy Week conference on Tuesday.
His remarks come in response to repeated calls from U.S. President Donald Trump urging the group to increase oil production in a bid to lower prices.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, reaffirmed earlier this month that it remains on track to gradually unwind its output cuts starting in April. The decision aligns with OPEC+’s strategy to ensure a balanced and sustainable oil market, rather than reacting to short-term price fluctuations.
Al-Ghais emphasized that OPEC+ takes a long-term approach to managing global supply and demand dynamics, ensuring stability for both producers and consumers. The group has consistently highlighted the need for measured and gradual adjustments to production levels to prevent market disruptions.
Industry analysts are closely watching how the planned output increase in April will impact oil prices, particularly amid global economic uncertainties and geopolitical tensions.
