OPEC Plus Pauses Output Hikes Amid Global Oil Oversupply
Update: 2025-12-30
Description
OPEC Plus to Maintain Oil Output Pause: Despite Global Oversupply and Geopolitical TensionsOPEC Plus, led by Saudi Arabia and Russia, is expected to keep its plan to halt oil output increases at a January 4th meeting. This decision comes as oil prices plummet, with crude futures dropping 17% this year, the largest annual decline since the 2020 pandemic crash. The group agreed to this in November and confirmed it earlier this month, aiming to address a growing global oil oversupply and slowing demand growth. Forecasters predict a record glut next year, and geopolitical tensions, such as U.S. blockades on Venezuela and public disputes between Saudi Arabia and the U.A.E., add to the uncertainty in oil markets. Checkout Solipillow.com
The Daily News Now! — Every city. Every story. AI-powered.
Hosted on Acast. See acast.com/privacy for more information.
Comments
In Channel
Download from Google Play
Download from App Store
United States00:00
00:00
x
