Opec+ to pause oil output rises next year after warnings of glut
Eight countries agree to lift production slightly in December but pause further increases at start of 2026
Eight countries agree to lift production slightly in December but pause further increases at start of 2026

Analysts predict a glut of crude by the end of the year after cartel reverses output cuts

Decision set to weigh on oil prices as global demand remains weak

With rivals running out of juice, the cartel can afford to play the long game

Output dropped by biggest volume on record in March with closure of Strait of Hormuz hitting producers around the Gulf

Traders warn of further jump in prices and ‘huge pain’ as economies cut consumption

Move underlines long-running frustrations with group over production quotas