Oil patch insider: OPEC+ to hold quotas; Bloomberg cmt. says higher oil prices by 2030 - December 07, 2025

Why Oil Producers Are Adding to the Global Supply Glut Despite Low Crude Prices

By Myra P. Saefong |MarketWatch.com| With U.S. crude-oil prices hovering below the often critical $60 threshold, you might think it’d be a good time to tackle the glut of oil supply sloshing through global markets. Yet the major oil producers known as OPEC+ chose to end some of their previous output cuts faster than expected in 2025 — increasing production quotas from April to December of this year, despite global benchmark prices having dropped…

Oil patch insider: OPEC+ to hold quotas; Bloomberg cmt. says higher oil prices by 2030 - December 07, 2025

According to a Nov. 30 Reuters report picked up by Larry Persily on Dec. 1, OPEC+ countries agreed in a Nov. 30 meeting to maintain group-wide oil output quotas for the start of 2026, as well as agreed on a mechanism to assess members' maximum oil production capacity, OPEC said in a statement. In a...