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Oil prices rise after OPEC+ pauses output hike for Q1 2026
Oil strengthened as OPEC+ delayed Q1 2026 output hikes, signalling cautious supply management amid demand concerns.
Crude oil prices edged higher following the announcement by OPEC+ that it will hold off increasing production in the first quarter of 2026, citing supply concerns and seasonal demand softness. Brent crude rose to around $65.01/barrel and U.S. WTI climbed to $61.19. The group approved a smaller increase for December and then a pause, signalling a shift in strategy amid glut worries and sanctions on Russian oil. Analysts say the move indicates price‐support intent, though slow global growth remains a headwind.