OPEC+ left its oil production quotas unchanged on Sunday, deciding to maintain current output levels through the first quarter of 2026.
The group adopted a new mechanism to assess each member’s maximum oil-production capacity. It said that the results, to be compiled between January and September 2026, will serve as reference baselines for 2027 quotas.
The eight OPEC+ members that had boosted output since April released an additional 2.9 million barrels per day (bpd), but they agreed to pause further increases under the new decision.
Even with those increases, the alliance maintains roughly 3.24 million bpd of output cuts under its overall transmission-floor agreement. The meeting did not alter that figure.
Markets responded quickly: oil prices rose — Brent crude climbed more than 1.5% — after the group confirmed the pause, as traders interpreted the move as a wait-and-see approach amid global oversupply concerns.
In addition, supply-side uncertainties contributed to the rally. The recent halt of exports by a major pipeline consortium — caused by drone damage at its Russian terminal — and renewed geopolitical tensions raised fresh concerns over global oil supplies, adding further upward pressure on prices.
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