OPEC+ Freezes Planned Output Hikes for Early 2026 as Abu Dhabi Hosts Key Oil Summit
Abu Dhabi on Monday hosted a high-level oil summit amid OPEC+’s decision to pause planned production increases for the first quarter of 2026. The move comes as member nations seek to stabilize global oil prices amid economic uncertainties and fluctuating demand. OPEC+, which includes the core Organization of the Petroleum Exporting Countries along with allies led by Russia, agreed that maintaining current output levels would help balance supply with slowing global consumption. Delegates emphasized the need for “market discipline” and coordination to prevent price volatility. Energy ministers from key producers, including Saudi Arabia, the UAE, and Russia, participated in the discussions, underscoring a cautious approach to production policy. Analysts say the freeze signals OPEC+’s intent to defend prices above $80 per barrel while monitoring the impact of geopolitical tensions and global energy transitions on long-term demand.
