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OPEC+ holds crude oil output steady, agrees on capacity mechanism
Business World Philippines
|December 02, 2025
OPEC+ agreed to leave oil output levels unchanged for the first quarter of 2026 at its meetings on Sunday as the group slows down its push to regain market share amid fears of a looming supply glut.
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The meeting of OPEC+, which pumps half of the world’s oil, comes during a fresh US effort to broker a peace deal between Russia and Ukraine, which could add to oil supply if sanctions on Russia are eased.
If the peace deal fails, Russia could see its supply curbed further by sanctions. OPEC+ groups the Organization of the Petroleum Exporting Countries and allies led by Russia.
Brent crude closed on Friday near $63 a barrel, down 15% this year.
“The message from the group was clear: stability outweighs ambition ata time when the market outlook is deteriorating rapidly,” said Jorge Leon, a former OPEC official who now works as head of geopolitical analysis at Rystad Energy.
OVER 3 MILLION BPD OF OUTPUT CUTS STILL IN PLACE
This story is from the December 02, 2025 edition of Business World Philippines.
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