Opec secretary-general Mohammad Barkindo
Brent heads for $82/bl as Opec+ holds steady
The cartel dashes expectations it might boost production ahead of schedule
Opec+ decided on Monday to continue into November with its plans to return 400,000bl/d per month to the market, amid speculation that soaring oil prices could have incentivised it to amend the proposal it made back in April. Brent crude surged back above the $80/bl mark to threaten $82/bl in Monday afternoon trading as the market digested the news that there would be no earlier restoration of production. “The Opec+ decision to continue with existing increments is likely to be supportive for oil prices in the immediate term,” Warren Patterson, head of commodities strategy, and Wenyu Yao, senior commodities strategist, at bank ING had forecast ahead of the decision, while flagging that “a one-
Also in this section
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
