OPEC+ has decided to keep production levels unchanged for the first quarter of 2026, emphasizing market stability in the face of global surplus risks.

OPEC+ decided on Sunday not to change production levels for the first quarter of 2026, emphasizing the importance of stabilizing the market in the face of ambitions to regain market share. This decision comes amid fears of a possible global supply surplus, while the United States seeks to mediate a peace agreement between Russia and Ukraine, which could influence global oil supply. Brent crude prices have fallen by 15% since the beginning of the year, closing on Friday at nearly $63 a barrel. OPEC+ reconfirmed production cuts of over 3 million bpd, equivalent to about 3% of global demand. The alliance also approved a mechanism for assessing the maximum production capacity of each member, which will influence the setting of new production quotas starting in 2027. Discussions regarding this mechanism have been difficult, with some states demanding higher quotas, while others oppose cuts.