Opec+ will raise its overall production by just 400,000bl/d for December
Opec+ sticks to its guns
The cartel opts not to spring any surprise by swifter loosening of the supply shackles
Opec+ opted on Wednesday to continue to adhere to its July agreement and raise its overall production by just 400,000bl/d for December. Its decision was largely expected, although there had been speculation that pressure from large consumers such as the US could have persuaded the producer group to inject a large addition of barrels into the market. “This will be seen as disappointing by the US, which is asking for an extra increase closer to 600,000bl/d,” says Ann-Louise Hittle, vice-president, macro oils, at consultancy Wood Mackenzie. “But as long as Opec+ actually boosts its output by 400,000bl/d, the US has indicated it will accept the outcome.” The consultancy believes that Opec+ doubt
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
