OPEC+ Maintains Plan to Pause Oil Production Increases in Q1 2026

Amid growing signs of a supply glut in the global oil market, OPEC+ will continue with its plan to pause increases in oil production during the first quarter of 2026.

Following a series of video conferences on Sunday, key member states led by Saudi Arabia confirmed the three-month pause in production increases, which was first announced earlier this month . They reiterated in a statement that the decision reflected expectations for weaker seasonal market conditions .

OPEC and its allies also approved a mechanism for reviewing the individual production capacities of its member countries . This is a sensitive process that will help set production quotas for 2027 . They have selected the Dallas-based consulting firm, DeGolyer and MacNaughton Corp., to conduct most of these assessments .

Although the decision to pause the next production increases indicates a degree of caution by the alliance after it rapidly ramped up oil production earlier this year, it still means the world market is on track for a significant supply surplus in early 2026, which is likely to put further pressure on oil prices .

"OPEC+ opted to hold fire and maintain its current strategy," said Jorge Leon, an analyst at the consulting firm Rystad Energy AS. "The message from the group was clear: stability outweighs ambition at a time when the market outlook is deteriorating rapidly."