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What will be the global oil production levels by the end of 2025?
2
Resolution / Starting Odds
Less than 90 million bpd • 33%
90-95 million bpd • 33%
More than 95 million bpd • 33%
Global energy reports and OPEC+ official announcements
Story
OPEC+ Extends Oil Production Cuts Through 2025, Voluntary Cuts of 2.2 Million Bpd Until September 2024
Jun 2, 2024, 12:22 PM
OPEC+ has agreed to extend its oil production cuts through the end of 2025 in an effort to stabilize global oil prices. The group, which includes major oil-producing nations, reached a tentative agreement to prolong both group-wide and voluntary cuts. Voluntary cuts amounting to 2.2 million barrels per day will be extended until the end of September 2024, after which they will be gradually phased out from October 2024 until September 2025. Additionally, the UAE will see a phased increase in its required production by 300,000 barrels per day starting January 2025. The total cuts amount to around 3.6 million barrels per day. This decision comes as the group aims to support prices amid tepid global demand growth, high interest rates, and rising U.S. production.
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13.71 million BPD • 25%
13.73 million BPD • 25%
14.00 million BPD • 25%
13.50 million BPD • 25%
104.40 Bcf/d • 25%
105.00 Bcf/d • 25%
103.50 Bcf/d • 25%
102.00 Bcf/d • 25%
Below 9 million barrels per day • 33%
Between 9 and 9.393 million barrels per day • 33%
Above 9.393 million barrels per day • 33%
Less than 500,000 barrels per day • 33%
Between 500,000 and 1 million barrels per day • 33%
More than 1 million barrels per day • 33%
1.10 million BPD • 25%
1.20 million BPD • 25%
1.00 million BPD • 25%
0.90 million BPD • 25%
Below 4.85M bpd • 25%
4.85M to 4.99M bpd • 25%
5M bpd • 25%
Above 5M bpd • 25%
Less than 50 million barrels • 25%
50-100 million barrels • 25%
100-150 million barrels • 25%
More than 150 million barrels • 25%
Increase by more than 20% • 25%
Increase by 10-20% • 25%
Increase by less than 10% • 25%
Decrease or no significant change • 25%
Less than $75 per barrel • 25%
$75 to $80 per barrel • 25%
$80 to $85 per barrel • 25%
More than $85 per barrel • 25%