Core Viewpoint - OPEC and non-OPEC oil-producing countries have decided to maintain an increase in oil production in December, with a daily increase of 137,000 barrels, but will pause the increase plan for the first three months of 2026 [1][2] Group 1: Production Decisions - Eight major oil-producing countries, including Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman, held an online meeting to discuss the international oil market situation and outlook [1] - The decision to adjust production in December is a response to previous voluntary production cuts, with the aim of stabilizing the oil market [1] - Due to seasonal factors, these countries will pause the increase in production in January, February, and March 2026, maintaining the same production level as in December 2025 [1] Group 2: Historical Context of Production Cuts - In April 2023, these eight countries announced a voluntary production cut of approximately 1.65 million barrels per day, followed by an additional voluntary cut of 2.2 million barrels per day in November 2023 [2] - Despite these cuts, oil production in the US and Canada has increased, leading to a loss of market share for OPEC [2] - From April 1, 2023, the eight countries decided to gradually increase oil production, with daily increases of 411,000 barrels in May, 548,000 barrels in August, and 137,000 barrels in October and November [2]
主要产油国宣布12月保持增产节奏 明年初暂停增产
Xin Hua Wang·2025-11-03 03:44