Opec+ should keep the levels unchanged oil production in today’s meeting. Four sources in the organization told Reuters as the group slows its push to reconquer market shares due to fears of an imminent overabundance of supply. The meeting ofOpec+ – which produces half of world oil – takes place during the new attempt by the United States to mediate a peace agreement Between Russia e Ukrainewhich could increase oil supply if the sanctions against the Russia were loosened. If thepeace agreement would fail, the Russia could see its supply further reduced by sanctions. L’Opec+ group theOrganization of the Petroleum Exporting Countries (OPEC) and the allies led by Russia. Il Brent it closed Friday at about $63 a barrel, down 15% this year. THE’Opec+ has suspended the increases of oil production for the first quarter of 2026, after having released approximately 2.9 million barrels per day to the market since April 2025.
The group still has about 3.24 million barrels per day in place production cutswhich represent approximately 3% of the global demandand today’s meeting is unlikely to change these cutssources said this week.
Debate on production capacity and quotas
The group will instead focus on the debate on how to evaluate the production capacity maximum number of members to be used to establish the production quotas from 2027 onwards, as reported by some sources. THE’Opec+ has been discussing the issue for years and it has proved difficult because some members, like the United Arab Emiratesthey increased the capacity and they desire quote higher. Other members, like i African countrieshave recorded a decline in production capacitybut they oppose the quota cuts. L’Angola he left the group in 2024 due to a disagreement over production quotas.