US EditionOPEC+ set to hold oil output policy steady, sources say
OPEC+ will maintain oil output levels through March 2026 and implement a capacity assessment mechanism to set 2027 production baselines amid market uncertainty.
- On Sunday, OPEC+ maintained group-wide oil output quotas for 2026 and approved a mechanism to assess members' maximum capacity for setting 2027 baselines.
- Eight members raised production since April to regain market share, increasing targets by around 2.9 million bpd, while uncertainty about future oil prices and competition from non-OPEC+ producers reinforced the decision to keep near-term output unchanged.
- Ministers scheduled four online meetings beginning at 13:00 GMT, including OPEC-only, the Joint Ministerial Monitoring Committee, full OPEC+ and the eight members.
- The group still holds about 3.24 million bpd of output cuts, representing around 3% of global demand, and ministers kept 2026 targets including a 2 million bpd cut while pausing hikes for the first quarter of 2026.
- OPEC+ pumps about half the world's oil, so its decisions influence global supply and prices amid Brent crude closing near $63 a barrel, down 15% this year, and Angola's 2024 exit highlights internal disputes.
142 Articles
142 Articles
OPEC+ Freezes Early 2026 Output To Keep Control Of Oil Market Turbulence
OPEC+ has chosen to halt its planned production hikes and keep output targets unchanged for the first quarter of 2026, signalling that the oil alliance would rather move cautiously than gamble on optimistic forecasts. After months of extra barrels from Saudi Arabia, Russia, the UAE and others, the group faces a simple risk: if it […]
OPEC+ Countries Confirm Pause on Early 2026 Production Increases
The Astana Times provides news and information from Kazakhstan and around the world. ASTANA — The eight OPEC+ countries — Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia, Saudi Arabia, and the UAE — met virtually on Nov. 30 to review global market conditions and the outlook. Photo credit: ixbroker.com The participating countries reaffirmed their Nov. 2 decision to pause production increases in January, February, and March 2026 due to seasonal fa…
Eight countries participating in the OPEC+ oil limitation agreement (Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria and Oman) have confirmed their decision to suspend the increase in oil production quotas in the first quarter of 2026.
Channel News Asia
Oil rises on OPEC+ output plan, Venezuela worries
PERTH, Dec 1 : Oil prices rose as much as 1.5 per cent on Monday after OPEC+ members reaffirmed a plan to pause production increases in the first quarter of next year and the prospect of U.S. action against oil producer Venezuela unsettled the market.Brent crude futures later pared gains to sit up 0.98 per ce
The Star Kuala Lumpur
OPEC+ to suspend oil output increase
VIENNA, Nov. 30 (Xinhua) -- The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, have decided to pause oil output increases in January, February and March 2026 due to seasonality, OPEC said in a statement on Sunday. Read full story
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