OPEC Maintains Small Output Increase Despite Strong Demand, Rising Prices

Global crude markets are about to get a paltry boost in additional oil output, after OPEC and its allies agreed to raise production by a nominal 400,000 barrels per day beginning in March.

During OPEC’s latest meeting, which lasted a mere 16 minutes, oil ministers decided to adhere to their previous plan of increasing oil output by only 400,000 barrels per day next month, despite oil prices sitting at nearly $90 per barrel and consumer inflation around the world soaring to historic levels.

The output plan was originally set in July, during a time when oil markets still displayed slack amid recovering demand. However, OPEC has failed to promptly respond to changing market conditions, and instead has persistently fallen short of targets over the past several months. As such, the upcoming output increase will likely do little to tame rising crude prices, particularly as the conflict between Russia and Ukraine threatens to rattle global energy flows.

Information for this briefing was found via Reuters. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Five OPEC+ Nations Fall Short on May Output Increase Pledge—Survey

OPEC+ members Algeria, Iraq, Kuwait, Saudi Arabia and the United Arab Emirates increased oil output...

Monday, June 9, 2025, 05:04:03 PM

Oil Jumps Amid Reports of Iran Preparing for Retaliation

Crude oil markets experienced a sharp upswing in late trading Thursday as intelligence reports emerged...

Friday, November 1, 2024, 08:01:35 AM

OPEC+ Accelerates Oil Output Increase to 411,000 BPD for May

OPEC+ countries unexpectedly voted on April 3 to speed up their oil production plan, boosting...

Friday, April 4, 2025, 09:58:00 AM

OPEC+ Accelerates Oil Production Despite Weak Demand, Prices Fall

OPEC+ announced it will boost oil production by an additional 411,000 barrels per day in...

Monday, May 5, 2025, 04:17:00 PM

OPEC+ Sees Production Cut Amid Oil Market Disconnect – Saudi Energy Minister

The oil futures market might be increasingly disconnected from its fundamentals due to “very thin...

Wednesday, August 24, 2022, 10:52:00 AM