OPEC+ has decided to implement a modest increase in oil production for December, while halting any additional output hikes during the first quarter of 2026, as the coalition of oil producers seeks to adjust its strategy in the face of mounting fears over a potential supply surplus.
Since April, OPEC+ has raised its production targets by approximately 2.9 million barrels per day—accounting for about 2.7% of the world’s crude oil supply. However, the group began tapering the pace of these increases from October, as market analysts projected a likely oversupply scenario.
Complicating matters further, fresh Western sanctions against Russia—one of the bloc’s key members—are posing new obstacles. Sanctions from the United States and the United Kingdom have targeted top Russian producers Rosneft and Lukoil, raising questions over Moscow’s ability to ramp up production any further, according to source reports.
At the group’s monthly meeting held on Sunday, eight key OPEC+ participants—Saudi Arabia, Russia, the United Arab Emirates, Iraq, Kuwait, Oman, Kazakhstan, and Algeria—agreed to boost their collective output targets by 137,000 barrels per day for December, mirroring the increases set for October and November.
In a statement, the alliance outlined that, beyond December, it will suspend production increases through January, February, and March 2026, attributing the pause to seasonal trends in global oil demand. The first quarter of the year is typically the weakest period for both demand and supply balances, and this move demonstrates OPEC+’s commitment to proactive market management, according to the group.
Crude oil prices advanced during early Asian trading on Monday. Brent crude contracts were up $0.37, or 0.57%, reaching $65.14 per barrel in early deals. Similarly, U.S. West Texas Intermediate (WTI) crude recorded a gain of $0.36, or 0.57%, trading at $61.34 a barrel.
