Starting in December, OPEC+ will increase its crude oil supply to the market to 137,000 barrels per day, marking the organization’s ninth consecutive increase.

The decision was announced this Sunday, November 2, by the ministers of eight countries in the OPEC+ alliance, led by Saudi Arabia and Russia, who indicated that there will be no monthly increases between January and March 2026.

The measure was taken considering “a stable global economic outlook and current healthy market fundamentals, reflected in low oil inventories,” according to a statement issued in Vienna by the Organization of the Petroleum Exporting Countries (OPEC).

It was learned that the increase in oil supply will be applied “starting with the 1.65 million barrels per day (mbd) of additional voluntary adjustments announced in April 2023.”

The eight countries reiterated the importance of adopting a prudent approach and maintaining the flexibility to continue pausing or reversing the additional voluntary production adjustments.

M.Pino

Source: notitarde

(Reference image source: Snap Wander on Unsplash)

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