OPEC+ to Increase Oil Output by 137,000 Barrels per Day in December
Eight OPEC+ member states — Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia, Saudi Arabia, and the United Arab Emirates — have agreed to raise oil production by 137,000 barrels per day starting in December, partially easing the 1.65 million barrels per day in voluntary cuts introduced in April 2023.
According to OPEC, Kazakhstan’s share of the increase will total 7,000 barrels per day, unchanged from November.
The group also decided to pause production hikes in January–March 2026 due to seasonal factors but left open the option to restore the remaining cuts gradually, depending on market conditions.
Member states reaffirmed their commitment to compensate for any overproduction since January 2024 and to continue holding monthly meetings to assess supply trends and compliance. The next meeting is scheduled for Nov. 30.
As Reuters reported, ongoing U.S. sanctions on Russian oil producers such as Rosneft and Lukoil have added uncertainty to global supply forecasts, with analysts noting that OPEC+ remains cautious about the risks of overproduction amid fragile market dynamics.
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