According to the draft statement, eight OPEC+ member countries have agreed in principle to maintain a halt to production increases through March next year.
The eight OPEC+ member countries (Saudi Arabia, Russia, UAE, Kazakhstan, Kuwait, Iraq, Algeria, and Oman) had increased their production quotas by about 2.9 million barrels per day, equivalent to about 3% of global demand, for the period from April to December 2025. The government subsequently canceled the planned increase from January to March 2026. Due to low seasonal consumption.
maintain profits
On the price front, oil prices continued to rise, supported by growing concerns about supply disruptions due to tensions between the United States and Iran, and ended the latest session near a six-month high due to the settlement.
Brent crude oil futures were down 0.03% at settlement to $70.69 per barrel, but were up 7.3% for the week and 16.2% for the month.
U.S. West Texas Intermediate crude oil fell 21 cents, or 0.32%, to close at $65.21 a barrel. The stock rose 6.8% on a weekly basis and 13.6% on a monthly basis.
According to the draft statement, eight members of the OPEC+ alliance have agreed in principle to maintain the suspension of production increases through March next year.
Eight OPEC+ member countries, including Saudi Arabia, Russia, the UAE, Kazakhstan, Kuwait, Iraq, Algeria, and Oman, have increased production quotas by approximately 2.9 million barrels per day, equivalent to approximately 3% of global demand, for the period from April to December 2025. The government subsequently canceled its plan to increase the amount from January to March 2026, citing a decline in seasonal consumption.
maintain profits
On the price front, oil prices continued to rise, ending the latest session near a six-month high at the time of settlement, supported by growing concerns about supply disruptions due to tensions between the United States and Iran.
Brent crude oil futures were down 0.03% at settlement to $70.69 per barrel, but were up 7.3% for the week and 16.2% for the month.
West Texas Intermediate (WTI) crude oil fell 21 cents, or 0.32%, to close at $65.21 a barrel, up 6.8% for the week and 13.6% for the month.
