US EditionOPEC+ set to hold oil output policy steady, sources say
OPEC+ keeps output steady for early 2026 amid market uncertainty and agrees on a new capacity assessment to guide 2027 production baselines, covering half of global oil supply.
- 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.
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66 Articles
The Organization of Petroleum Exporting Countries (OPEC) has agreed not to increase oil production further in the coming months. The leaders of the 12 member countries of the cartel and the countries that usually follow OPEC met online today.
Times of India
Business RecorderOPEC+ set to hold oil output policy steady on Sunday, sources say
OPEC+ Oil Output Policy: OPEC+ is expected to keep its oil output levels unchanged for the first quarter of 2026, balancing market share recovery with fears of a supply glut. This decision follows a series of meetings amid fluctuating oil prices and a potential resolution to the Russia-Ukraine conflict.
ABC FOX Montana
OPEC+ likely to maintain current output levels
Ministers of the Organization of the Petroleum Exporting Countries and allied nations (OPEC+) are expected to keep current output levels unchanged when they meet for online meetings on Sunday, analysts told AFP.
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