The OPEC+ alliance agrees in principle to suspend the increase in oil production during March
8 Eight countries agreed in an alliance "OPEC+"Today, Sunday, in principle, to maintain the suspension of oil production increases for next March, according to what three coalition sources reported, and a preliminary statement seen by the agency. "Reuter"
The eight countries (Saudi Arabia, Russia, the Emirates, Kazakhstan, Kuwait, Iraq, Algeria, and the Sultanate of Oman) raised production quotas by about 2.9 million barrels per day for the period from April to December 2025, equivalent to approximately 3% of global demand.
At a later meeting, it was agreed to suspend the increases planned for the period from January to March 2026 due to a decrease in seasonal consumption.
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The OPEC+ meeting comes at a time when Brent crude was near $70 a barrel on Friday, close to a 6-month high of $71.89 on Thursday, despite speculation that Surplus supply in 2026 will lead to lower prices.
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