Overview
- Eight core members are expected to lift December output targets by about 137,000 barrels per day, with a decision due at a 1600 GMT online meeting, according to multiple sources.
- OPEC+ has added more than 2.7 million barrels per day since April but slowed recent increases as producers weigh signs of a potential glut.
- U.S. crude stocks have fallen sharply, which has helped Brent recover to roughly $65 a barrel after a five‑month low near $60 on October 20.
- Fresh U.S. and U.K. sanctions on Russia’s Rosneft and Lukoil raise uncertainty over Moscow’s exports, though several analysts say Russia has often worked around restrictions.
- Compliance issues persist for members that previously exceeded quotas, tanker volumes have climbed since September, and one source said a pause in hikes remains possible.