OPEC Plus Pauses Oil Production, Braces for Surplus
Update: 2025-11-30
Description
OPEC Plus maintains current oil production levels, anticipating a surplus in the global market. This decision comes as oil supply from the Americas booms, outpacing demand growth. The group will review each members production capabilities, aiming to set future limits in 2027. Experts predict a record oil glut in 2026, putting downward pressure on prices. Saudi Arabia and other oil producers face financial challenges due to the drop in prices.
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