OPEC+ has agreed to postpone its planned production increase, which was originally scheduled for December. This is the second delay in their efforts to boost supply due to ongoing price challenges.
This decision reflects their response to a fragile economic outlook and their aim to stabilize oil prices, which have been struggling recently. The coalition, led by Saudi Arabia and Russia, had planned to add 180,000 barrels per day starting in December, but will now keep supply levels unchanged during that month.
The announcement was made on OPEC's official website, emphasizing the organization's commitment to managing production based on market conditions.