11/03/2025

OPEC+ Pauses Oil Output Hikes beyond December amid Glut Fears

The alliance has paused oil output increases for January through March 2026

On Sunday, OPEC+ agreed a small oil output increase for December and a pause in increases in the first quarter of 2026 as the producers' group moderates plans to regain market share due to rising fears of a supply glut.

OPEC+ has raised output targets by around 2.9 million barrels per day - or around 2.7 percent of global supply - since April, but slowed the pace from October amid predictions of a looming oversupply.

New Western sanctions on OPEC+ member Russia are adding to challenges in the strategy, as Moscow may struggle to further raise output after the U.S. and Britain imposed new measures on top producers Rosneft and Lukoil.

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