OPEC+ to keep oil output steady despite turmoil

January 4, 2026 5:15 PM

OPEC+ to keep oil output steady despite turmoil

OPEC+ has agreed in principle to maintain steady oil output despite rising political tensions among key members and widening geopolitical uncertainty. The eight participating countries, Saudi Arabia, Russia, the United Arab Emirates, Kazakhstan, Kuwait, Iraq, Algeria and Oman, collectively pump about half of the world’s oil. They had raised output targets by around 2.9 million barrels per day between April and December 2025, equivalent to nearly three percent of global demand, before agreeing...

OPEC+ agrees modest oil output hike from November, sources say

October 5, 2025 5:07 PM

OPEC+ agrees modest oil output hike from November, sources say

OPEC+ will raise oil output from November by 137,000 barrels per day (bpd), the same fairly modest increase as in October, three people close to the matter said on Sunday. The group comprising the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers has increased its oil output targets by more than 2.6 million bpd this year, equating to about 2.5% of global demand. The shift in policy after years of cuts is designed to regain market share from rivals such as...