OPEC decided to increase production by 137,000 barrels per day in December, and suspend production in Q1 next year
2025-11-02 20:13:39
The ministers of the eight OPEC + countries decided to increase their oil production quotas by 137,000 barrels per day in December, taking into account the stable outlook for the global economy and the current favorable market conditions of low inventories, OPEC said in a statement. OPEC previously reduced oil production by 1.65 million barrels per day. "After December, due to seasonal factors, the eight countries have also decided to suspend production increases in January, February and March 2026," the statement said. The parties to the agreement reiterated that production of 1.65 million barrels per day may be partially or fully restored, depending on the gradual recovery of changing market conditions. The next meeting of the eight OPEC + members will be held on November 30, 2025.
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