OPEC+ agreed to a small oil output increase for December with a pause in the first quarter of 2026 to prevent a supply glut. Output targets have been raised by 2.9 million barrels per day since April. New Western sanctions on Russia may hinder further output increases. Oil prices have recovered to around $65 a barrel. OPEC+ members decided to pause production increments in January, February, and March 2026 to manage market uncertainties.

Read more at Yahoo Finance: OPEC+ pauses oil output hikes beyond December amid glut fears