Oil prices remain stable today at $64.80 per barrel of Brent crude, despite a moderate production increase of 137,000 barrels per day starting in December. The decision was made during Sunday’s meeting.
OPEC+ also announced plans to pause production hikes in Q1 2026, which helped balance the market’s reaction. The decision reflects growing concerns about a potential oil oversupply at the beginning of next year. U.S. sanctions on Russian producers have introduced supply uncertainty from Russia, a key OPEC+ member. Although geopolitical factors — such as a Ukrainian drone attack on Russia’s Tuapse port — have increased volatility, the market remains focused mainly on oversupply risks and weaker industrial activity in Asia.
Following the OPEC+ decision, Morgan Stanley raised its Brent forecast to $60 per barrel for early 2026 (from $57.50), citing reduced concerns over excess supply. Meanwhile, UBS maintained its forecast range of $60–70 per barrel, with a year-end target of $62. Analysts expect the market to remain under pressure in 2026 due to record-high U.S. oil output (13.8 million barrels per day) and weak demand in Asia.
US100: Wall Street's stronghold of growth❓
BREAKING: EURUSD gains after US ISM data 💡
BREAKING: PMI data from European countries came in line with expectations 🔎
BREAKING: Swiss inflation slows again 📉
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
