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Benzinga
Benzinga
Business
Piero Cingari

OPEC+ Extends Oil Output Cuts To Late 2026: What It Means For Markets

OPEC Oil United States

The OPEC+ group decided on Thursday to extend its collective oil production cuts of 3.65 million barrels per day (bpd) through the end of 2026, solidifying the cartel’s cautious stance amid global demand concerns and rising output from non-OPEC+ producers.

During its December meeting, the group also announced a gradual unwinding of cuts starting in April 2025, a move designed to prevent oversupply risks, CNBC reports.

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