The eight members of the OPEC+ group agreed to raise oil production by 137,000 barrels per day (bpd) in December, while pausing further increases from January to March 2026 due to seasonality, according to an OPEC statement on Sunday.
The group, comprising Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman, met virtually on Sunday to review global oil market conditions and the outlook.
The 137,000-bpd output increase, representing a partial and gradual return of the 1.65 million bpd additional voluntary cuts announced in April 2023, was made in light of a steady global economic outlook and healthy market fundamentals, reflected in low oil inventories.
The countries also reaffirmed their commitment to closely monitor market developments and maintain full flexibility to pause or reverse the adjustments, including the 2.2 million bpd voluntary cuts announced in November 2023.
At their previous meeting on Oct. 5, the eight producers had decided to raise output by the same amount of 137,000 bpd for November.
The next meeting of the eight-member OPEC+ group is scheduled for Nov. 30. OPEC+ production cuts had reached 5.85 million bpd in March, equivalent to around 5.7% of global demand.
These cuts reflect cumulative measures announced by member countries since late 2022, including the 2 million bpd reduction in October 2022, the 1.65 million bpd voluntary cut by eight members in April 2023, and the 2.2 million bpd additional voluntary reduction in November 2023.
Member countries fully returned the 2.2 million bpd cut by the end of September and began a gradual rollback of the 1.65 million bpd cut in October. #8 OPEC+ Members to Raise Output by 137,000 bpd. #8 OPEC+ Members to Raise Oil Output by 137,000 bpd.

Oil prices increased on Monday after the Organisation of Petroleum Exporting Countries and allies’ members (OPEC+) moved to avoid creating a supply glut in the global commodity market.
The oil group decided to pause further production hikes for the next quarter, a step seen as an effort to prevent a potential supply glut as demand slows and tensions between Russia and Ukraine intensify.
Brent crude was trading at $65.21 per barrel, up around 1% from the previous close of $64.57. US benchmark West Texas Intermediate (WTI) also increased by 1.1% to $61.37, compared to $60.69 in the prior session.
The eight members of the OPEC+ group agreed to raise oil production by 137,000 barrels per day (bpd) in December, while pausing further increases from January to March 2026 due to seasonality, according to OPEC’s statement on Sunday.
The group, comprising Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman, met virtually on Sunday to review global oil market conditions and the outlook.
The modest hike is part of a gradual rollback of the 1.65 million bpd voluntary cuts announced in April 2023 and comes amid “healthy market fundamentals” and low oil inventories.
Producers also reaffirmed their commitment to monitor market conditions and to keep flexibility to pause or reverse any changes, including the 2.2 million bpd voluntary reductions announced in November 2023. They previously approved a similar 137,000-bpd increase for November.
Analysts said the pause signals a pre-emptive attempt to keep the market balanced.
“This period is normally a period of lower demand, and delegates said the decision to pause from January reflects expectations of a seasonal slowdown,” Daniel Hynes, a senior commodity strategist at the Australia and New Zealand Banking Group, said in a note.
“We suspect they’re also aware that the market may struggle to take any additional barrels, particularly if disruptions to Russian supply end up being temporary,” Hynes added.
Meanwhile, the war between Russia and Ukraine re-escalated over the weekend, with both sides targeting each other’s energy infrastructure as winter nears, supporting prices amid supply concerns.
Moscow and Kyiv traded accusations Sunday over overnight airstrikes that killed at least two people in Ukraine’s southern Odesa region and damaged energy facilities on both sides.
Ukraine’s State Emergency Service said in a statement on Telegram that an overnight Russian drone attack caused a fire in a parking area filled with trucks, which was later extinguished.
In Zaporizhzhia, Governor Ivan Fedorov said nearly 58,000 people lost electricity following the attack.
Ukraine’s Air Force said its defenses downed 67 of 79 strike drones and two Iskander-M ballistic missiles launched by Russia overnight.
In Russia’s southern Krasnodar region, the local operational headquarters said on Telegram that an oil terminal and tanker in the port town of Tuapse were damaged after fragments from downed Ukrainian drones fell on the site.
“According to preliminary information, there are no injuries. Emergency services are working at the scene,” it said, adding that a nearby railway station building was also damaged. Zenith Bank Price Target Sets at N81 after Q3 Earnings

• Group calls for urgent infrastructure rehabilitation
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has described the 650, 000 barrels per day Dangote Refinery as a historic step toward ending fuel imports. The group however warned that weak infrastructure could undermine the refinery’s impact.
DAPPMAN Chairperson, Mrs Moroti Adedoyin-Adeyinka, sounded this warning while appealing to government and other stakeholders in the sector to urgently address the nation’s aging petroleum products pipelines, inefficient ports and infrastructure gaps.
Adedoyin-Adeyinka , represented by Mrs Ngozi Ekeoma, Group Managing Director of Nepal Energies Limited at the just concluded OTL Africa Downstream Week 2025, made the appeal while delivering her paper on “Trade and infrastructure challenges in Nigeria’s downstream sector.”
She noted that Nigeria’s pipelines, ports and storage depots need urgent rehabilitation to support new refining capacity and improve supply chain efficiency.
According to her, most of the country’s pipeline network, built over 40 years ago, suffers from vandalism, under-capacity and poor maintenance.
She said these problems force marketers to depend heavily on road transport, increasing costs, delaying distribution and exposing products to risks.
The DAPPMAN leader also identified shallow drafts, congestion and cumbersome customs procedures at ports as barriers to efficient product movement.
She urged government to digitalise port operations, simplify customs processes and improve turnaround times to boost trade competitiveness.
Adedoyin-Adeyinka said the Petroleum Industry Act (PIA) 2021 provides a strong foundation for reform through the NMDPRA and the Midstream and Downstream Gas Infrastructure Fund.
However, she expressed concern over slow implementation, weak coordination and policy delays that create uncertainty for investors and limit sectoral reform. She called for a Downstream Infrastructure Implementation Taskforce within the NMDPRA to fast-track projects, harmonise tariffs, and ensure open access to facilities.
She emphasised that the PIA must move from paper to practice through transparent tariffs and effective deployment of the MDGIF to close logistics gaps.
Adedoyin-Adeyinka said new private and modular refineries in several states signal Nigeria’s move toward fuel self-sufficiency.
She warned that this progress must be supported with strategic investments to prevent future distribution challenges.
She proposed developing pipelines linking the Dangote Refinery to inland depots, expanding northern storage and building digitalised truck parks for safer operations.
On regional trade, she called for harmonised product standards within ECOWAS and AfCFTA and the creation of cross-border depots in neighbouring countries.
She added that aligning infrastructure with refining capacity could position Nigeria as Africa’s leading downstream logistics and energy hub.
Adedoyin-Adeyinka urged support through infrastructure tax credits, energy bonds and local financing to empower indigenous marketers and logistics operators.
She said domestic refining marks a turning point for Nigeria’s downstream sector but warned success depends on transparency and regulatory consistency.
“The end of fuel imports is near. But progress depends on whether our infrastructure and policies match our refining growth,” she said.
She added that with accountability and urgency, Nigeria could meet its fuel needs and become West and Central Africa’s energy trade hub.