OPEC+ reaffirm output hikes pause till March 2026 on seasonality

The eight OPEC+ countries, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman, which previously announced additional voluntary adjustments in April and November 2023, met virtually on Nov. 30, to review global market conditions and outlook.
 

They reaffirmed their decision on Nov. 2, 2025 to pause production increments in January, February, and March 2026 due to seasonality, Saudi Press Agency reported.
  

The eight participating countries also reiterated that the 1.65 million barrels per day may be returned in part or in full subject to evolving market conditions and in a gradual manner. They will continue to closely monitor and assess market conditions, and in their continuous efforts to support market stability.
 

Moreover, they reaffirmed the importance of adopting a cautious approach and retaining full flexibility to continue pausing or reverse the additional voluntary production adjustments, including the previously implemented voluntary adjustments of the 2.2 million barrels per day announced in November 2023.
 

The OPEC+ countries will hold monthly meetings to review market conditions, conformity, and compensation. The eight countries will meet on January 4, 2026.