OPEC+ Raises Production for December, Halts Increase Until March 2026
Photo: ChatGPT AI Generated
In April 2023, OPEC+ countries agreed to cap daily oil production at 1.65 million barrels. On November 2, the alliance decided to temporarily raise output by 137,000 barrels per day in December, Orda.kz reports.
The increase will be short-lived — members confirmed they will suspend further production growth from January through March 2026 due to weak seasonal demand.
The participating nations — including Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman — emphasized that they could revert to the 1.65-million-barrel limit, either partially or in full, depending on market conditions.
"Eight OPEC+ countries have confirmed their intention to fully offset any excess production from January 2024," the organization said on its website.
The decision comes amid heightened pressure on Russia following new U.S. sanctions on two of its largest oil producers.
The next OPEC+ meeting is scheduled for November 30, 2025.
Earlier, Orda.kz reported that OPEC had demanded further oil output cuts from Kazakhstan.
Original Author: Oksana Matvienko
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