OPEC Decides to Increase Production by 137,000 Barrels Per Day in December, Halts Production Increases in Q1 of Next Year. In a statement, OPEC announced that, considering the stable outlook for the global economy and current favorable market conditions with low inventory levels, ministers from the eight OPEC+ countries have decided to increase oil production quotas by 137,000 barrels per day in December. OPEC had previously reduced oil production by 1.65 million barrels per day. The statement continued, “Following December, due to seasonal factors, these eight countries have also decided to suspend production increases in January, February, and March 2026.” The parties reiterated that the 1.65 million barrels per day production increase may be partially or fully restored, depending on evolving market conditions and a gradual recovery. The next meeting of the eight OPEC+ members will be held on November 30, 2025.
