MOSCOW, March 9. /TASS/. The rising oil surplus on the market indicates a greater role for OPEC+ states' cooperation in coming years, which is likely to be extended, the International Energy Agency (IEA) said in its ‘Analysis and forecast to 2025’ report released on Monday.

Global oil production capacity is set to increase by 5.9 mln barrels per day by 2025, which marginally outpaces growth in demand, IEA’s analysts suggest.

"Robust non-OPEC supply growth in the next few years suggests a likely role for continued OPEC+ market management," the report said.

A sharp jump in the dollar and the euro against the ruble followed the oil price drop amid the news that OPEC+ countries failed to agree on an additional reduction in oil production amid sliding demand due to the coronavirus. OPEC proposed to deepen production cuts by another 1.5 mln barrels per day until the end of this year. However, Russia and Kazakhstan opposed the proposal.