Oil Traders Doubt OPEC+ Will Cut Supply in 2026 Despite Surplus

Oil traders are not counting on OPEC+ to cut production next year, despite forecasts that a global supply surplus could send prices even lower.

Almost two-thirds of 25 brokers and analysts surveyed by Bloomberg News said that the Organization of the Petroleum Exporting Countries and its allies probably wouldn’t cut output next year. Less than a third anticipated the group would agree to reduce supplies, the first time in more than two years it would make such a move.