OPEC+ assesses global oil markets as producers navigate surplus risks

OPEC+ assesses global oil markets as producers navigate surplus risks

OPEC+ weighs supply strategy amid weakening demand outlook and rising geopolitical uncertainty. OPEC+ assesses global oil markets this week as the coalition of major oil-producing nations gathers to determine whether its recently revived output strategy can be sustained in the face of weakening demand and accumulating supply. With signs of surplus becoming more visible, the group led by Saudi Arabia and Russia is expected to pause planned increases in early 2026, a decision that reflects the mounting difficulty of balancing market share ambitions with price stability. The meeting arrives at a sensitive moment for the Organization of the Petroleum Exporting Countries and its partners, which spent much of the past year accelerating the return of output that had been curbed since 2023. Several delegates have indicated privately that the group will adhere to plans set earlier in the month, which include one final modest increase in December followed by a freeze on supply changes for the fir…