Shafaq News- Vienna

On Sunday, the Organization of the Petroleum Exporting Countries (OPEC+) confirmed it will keep oil production steady through the first quarter of 2026, pausing planned increases amid seasonal demand fluctuations.

In a statement, the Organization said eight of its members —Iraq, Russia, Saudi Arabia, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman— will maintain production at the December 2025 level of 39.725 million barrels per day (bpd).

Those eight producers had previously implemented 1.65 million bpd in voluntary cuts in April 2023, followed by an additional 2.2 million bpd in November. They began easing the reductions in October 2025 through monthly 137,000-bpd increases, with December marking the third step in that process.

By the end of 2025, OPEC+ suspended planned hikes for February and March 2026 due to seasonal demand patterns, leaving the group with flexibility to pause, continue, or reverse the unwinding depending on market conditions.

OPEC+, which supplies about 40% of the world’s crude, continues to hold combined cuts of roughly 3.66 million bpd, according to its Secretariat.

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