Commodities
OPEC+ Sticks With Plans to Pause Output Hikes in Early 2026
Crude oil storage tanks at the Juaymah Tank Farm in Saudi Aramco's Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia.
Photographer: Simon Dawson/BloombergOPEC+ will stick with plans to pause production increases during the first quarter, amid growing signs of a surplus in global oil markets.
Key members led by Saudi Arabia confirmed the three-month supply pause, first announced at the start of this month, following a set of video conferences on Sunday. They reiterated in a statement that the decision reflected expectations for weaker seasonal market conditions.