OPEC+ hits pause on oil output hikes until end of 2026
OPEC and its allies (OPEC+) are keeping oil production steady through December 2026, reacting to weaker demand growth and a looming oversupply.
They had planned a small boost in late 2025, but now they're holding off on any increases for at least the first quarter of next year.
Why does this matter?
Oil prices have dropped about 15% this year, with barrels trading around $63—largely because countries in the Americas are pumping out more oil.
The International Energy Agency warns we could see a record surplus in early 2026, with global inventories rising fast.
OPEC+ controls about 40% of the world's crude supply, so their decisions can ripple into everything from fuel costs to inflation—something that affects all of us, whether you drive or just order stuff online.