Are oil prices set to rise again? OPEC+ decides the decision today
Today, Sunday, the OPEC+ alliance intends to announce another new increase in Oilfor the month of December, as part of the program of voluntary increases, three people familiar with the talks told… "Reuters".
It is set to The new Western sanctionson Russia are the most prominent issue on the table of today’s meeting, as Moscow may face difficulty in increasing production, after the United States and Britain imposed new sanctions on the two largest Russian oil companies; "Rosneft"and"Lukoil"
The three sources said that the eight OPEC+ member countries – Saudi Arabia, Russia, the UAE, Iraq, Kuwait, Oman, Kazakhstan, and Algeria – are scheduled to agree to increase December production targets by 137 thousand barrels per day.
The countries decided to implement a production adjustment of 137 thousand barrels per day out of the total amounts of additional voluntary adjustments amounting to 1.65 million barrels per day that were announced in April. 2023, and this amendment was implemented in November 2025.
It is noted that Oil prices fell to a 5-month low of around $60 a barrel on October 20, due to fears of a build-up of excess supply, but have since recovered to around $65 a barrel due to sanctions on Russian oil and optimism about US talks with its trading partners.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
