403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
OPEC+ Set to Pause Oil Production Increases Through Q1 2026
(MENAFN) The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, have elected to suspend oil production increases throughout January, February, and March 2026 due to seasonal factors, OPEC announced in a statement Sunday.
The decision emerged from a virtual meeting of member nations, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, convened to assess global market dynamics and economic projections.
The eight OPEC+ countries have been incrementally raising oil output on a monthly basis since April this year.
The statement said the countries will adopt a cautious approach and maintain full flexibility to adjust their outputs as needed.
The nations are scheduled to reconvene on Jan. 4, 2026 to determine subsequent actions, according to the organization.
This pause marks a strategic shift for the alliance as members navigate uncertain demand patterns and seasonal consumption fluctuations heading into the new year.
The decision emerged from a virtual meeting of member nations, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, convened to assess global market dynamics and economic projections.
The eight OPEC+ countries have been incrementally raising oil output on a monthly basis since April this year.
The statement said the countries will adopt a cautious approach and maintain full flexibility to adjust their outputs as needed.
The nations are scheduled to reconvene on Jan. 4, 2026 to determine subsequent actions, according to the organization.
This pause marks a strategic shift for the alliance as members navigate uncertain demand patterns and seasonal consumption fluctuations heading into the new year.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment