OPEC+ Pauses Production Growth at the Start of 2026

Eight members of the OPEC+ alliance, including Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman, confirmed their decision to keep oil output steady in the first quarter of 2026. The pause in increasing quotas is attributed to seasonally weaker demand and an assessment of oversupply risks in the market.

Between April and December 2025, the group had already returned about 2.9 million barrels per day to the market from previously reduced volumes. The remaining 1.24 million barrels per day are set to be released gradually after further assessment of market conditions. The International Energy Agency forecasts that the first quarter of 2026 could see one of the largest supply surpluses in recent years.

The alliance’s next meeting is scheduled for early June 2026. Members note that decisions will continue to be based on actual inventory and demand trends across different regions.