Opec+ is entering 2026 with the ‘Group of Eight’ holding production quotas steady for Q1. A decision on output policy for April is likely to be made in March. The parallels with the two previous years are clear, with the Group of Eight having entered both 2024 and 2025 with deep voluntary cuts in place for Q1.
The question for oil markets is whether this year will be like 2024, when the cuts were ultimately extended by a full year, or more like 2025 when the Group of Eight defied expectations by accelerating the unwinding of 2mn b/d of voluntary cuts and making a start on the smaller 1.65mn b/d tranche. (CONTINUED – 907 WORDS)
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