OPEC+ Pauses Output Hikes After Small December Increase

Eight OPEC+ countries on Sunday agreed to raise oil output in December by a modest 137,000 barrels per day but will pause further hikes in the first quarter of 2026, as the group balances its push for market share against signs of an emerging supply glut. The cartel member states led by Saudi Arabia agreed during a brief 14-minute video conference on Sunday to increase output by about 137,000 barrels a day next month as expected, matching increases scheduled for October and November (it is unlikely that even this modest increase will be fully implemented). However, the group also announced…