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.
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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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