The Opec+ alliance has agreed to extend its voluntary oil production cuts for an additional three months to prevent price declines. This decision follows a year of reduced output to balance supply and demand in the face of weakened global demand, particularly from China. Analysts expect a gradual increase in production starting April 2025, but caution that increased output, especially from US shale oil, could further depress oil prices despite Opec+ efforts to stabilize the market.

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