US EditionAbu Dhabi hosts oil summit as OPEC+ halts production hikes planned for first quarter of 2026
OPEC+ halted Q1 2026 oil output hikes to manage oversupply and sanction uncertainty, while boosting December production by 137,000 barrels, officials said.
- Abu Dhabi hosted an oil summit as OPEC+ halted production hikes planned for the first quarter of 2026 over concerns of excess supply in the market.
- The OPEC+ decision comes after the US and UK implemented new sanctions targeting Russian oil companies like Rosneft and Lukoil over Russia's war on Ukraine.
- The UAE has maintained ties with Russia despite the war, but has also facilitated prisoner exchanges between Kyiv and Moscow.
37 Articles
37 Articles
Abu Dhabi hosts oil summit as OPEC+ halts 2026 production hikes
Abu Dhabi hosted a major oil summit Monday, hours after the OPEC+ cartel and its allies said it would halt further production increases planned in the first quarter of 2026 over concerns of too much supply in the market. The OPEC+ decision comes as both the United States and the United Kingdom implemented new oil sanctions targeting Russia over its war on Ukraine. Those sanctions targets included Rosneft and the Russian oil company Lukoil, whose…
Abu Dhabi to host oil summit as OPEC+ halts production hikes planned for first quarter of 2026
Abu Dhabi opened a major oil summit Monday with officials offering bullish optimism that power demands for artificial intelligence and global aviation will boost energy prices, just hours after OPEC+ paused production increases planned for next year.
OPEC+ Blinks at Abu Dhabi Oil Summit Amid Global Sanctions
OPEC+ Blinks at Abu Dhabi Oil Summit Amid Global Sanctions The Abu Dhabi Oil Summit kicked off Monday amidst significant international attention following OPEC+'s decision to pause planned production increases for 2026. The decision comes as the market grapples with an oversupply and new sanctions against Russian oil producers by the US and UK.Sanctions have put economic pressure on Russian oil companies, including event sponsor Lukoil, driving …
Associated Press News
Abu Dhabi hosts oil summit as OPEC+ halts production hikes planned for first quarter of 2026
Abu Dhabi hosts a major oil summit Monday, just after the OPEC+ group of the cartel and its allies announced they would halt planned production increases for early 2026.
Morgan Stanley lifts H1 2026 Brent forecast to $60 on OPEC+ pause, Russia sanctions
(BOE Report) – Morgan Stanley on Monday raised its Brent crude forecast for the first half of 2026 to $60 a barrel from $57.5, citing the decision by OPEC+ to pause quota hikes in the first quarter of next year and recent U.S. and EU sanctions on Russian oil assets. The bank expects a “substantial surplus” in the oil market next year, peaking in the second quarter. However, it expects non-OPEC production growth will have slowed by then, and that
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