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OPEC Should Roll Back Production Cuts Next Year: Kpler

OIL

Non-OPEC+ supply growth is expected to slow this year, allowing for a resurgence in OPEC+ production from 2025, according to Kpler, cited by Dow Jones.

  • "OPEC+ needs to bring production back in 2025,” Kpler’s lead crude analyst Viktor Katona said. "If they don’t, we have a problem.”
  • Without a rise in OPEC+ production in 2025, oil prices could be pushed much higher, according to Katona.
  • The current output cuts are expected to be maintained throughout 2024, Kpler said.

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