OPEC+ Still on Track to Pause Hikes in Early 2026, Delegates Say

Oil prices increased following OPEC+'s confirmation to maintain its pause on production hikes during the first quarter, as traders considered the implications of President Donald Trump's recent statements regarding Venezuela.

Asian stocks experienced fluctuations between gains and losses following modest increases in the US markets, as investors shifted their focus to upcoming economic data and an anticipated interest-rate cut by the Federal Reserve this month.

OPEC+ has confirmed its decision to pause oil production increases during the first quarter of 2026, responding to signs of a surplus in global oil markets. This decision aligns with the group's strategy to stabilize oil prices amid fluctuating market conditions.

OPEC+ has engaged a Dallas-based consultant to conduct a comprehensive review of its oil production capacity, a move that follows the consultant's previous audit of Saudi Aramco's reserves. This review aims to assess the potential output capabilities of member countries in the coming years.

OPEC+ is convening to evaluate global oil markets, with expectations to maintain current output levels amid indications of a surplus in supply. This meeting is crucial as it reflects the group's ongoing strategy to manage oil production in response to fluctuating market conditions.