Opec+ will raise its overall production by just 400,000bl/d for December
Opec+ sticks to its guns
The cartel opts not to spring any surprise by swifter loosening of the supply shackles
Opec+ opted on Wednesday to continue to adhere to its July agreement and raise its overall production by just 400,000bl/d for December. Its decision was largely expected, although there had been speculation that pressure from large consumers such as the US could have persuaded the producer group to inject a large addition of barrels into the market. “This will be seen as disappointing by the US, which is asking for an extra increase closer to 600,000bl/d,” says Ann-Louise Hittle, vice-president, macro oils, at consultancy Wood Mackenzie. “But as long as Opec+ actually boosts its output by 400,000bl/d, the US has indicated it will accept the outcome.” The consultancy believes that Opec+ doubt
Also in this section
27 February 2026
LNG would serve as a backup supply source as domestic gas declines and the country’s energy system comes under stress during periods of low hydropower output and high energy demand
27 February 2026
The assumption that oil markets will re-route and work around sanctions is being tested, and it is the physical infrastructure that is acting as the constraint
27 February 2026
The 25th WPC Energy Congress to take place in tandem as part of a coordinated week of high-level ministerial, institutional and industry engagements
27 February 2026
The deepwater sector must be brave by fast-tracking projects and making progress to seize huge offshore opportunities and not become bogged down by capacity constraints and consolidation
