Bloomberg has learned about a possible extension of OPEC+ shutdown of the increase in oil production

OPEC+ member countries will hold a videoconference on January 4, at which they will consider a decision to further reduce oil production in the first quarter of 2026. This was reported by Bloomberg on December 30, citing a source.

"OPEC+ is expected to maintain its planned production pause at its meeting amid growing signs of a global oil glut," the sources said.

In 2025, crude oil futures fell by 17% and are approaching the largest annual drop since the 2020 pandemic amid increased supplies from both OPEC+ and other organizations, the material says.

The authors of the article note that the International Energy Agency predicts a record oil surplus in 2026.

Quota status: OPEC+ has decided to maintain its oil production policy until the end of the year

In December, the G8 will increase production by 137 thousand barrels per day, and in the first quarter of 2026 it will suspend the increase.

Russian Deputy Prime Minister Alexander Novak said on December 1 that the situation on the global oil market is stable, largely due to the actions of OPEC+ countries. He added that the demand for oil has now decreased somewhat.

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