Reported about 17 hours ago
OPEC+ has decided to halt output increases for the first quarter of next year, following a modest lift of 137,000 barrels per day in December. This decision comes as market conditions suggest a growing surplus, particularly influenced by sanctions on Russia and diminishing demand in major markets. The group aims to balance its market share ambitions while addressing emerging concerns over oversupply, forecasting that excess oil may exceed demand significantly in the coming months.
Source: YAHOO