OPEC+ Holds Output Steady, Approves New Capacity Framework Through 2026 ...Middle East

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OPEC+ Holds Output Steady, Approves New Capacity Framework Through 2026
OPEC and its allies agreed on Sunday to keep oil output levels unchanged through the end of 2026, reaffirming their production control framework amid mounting concerns over a looming supply glut and weakening prices. The decision came at the 40th OPEC and non-OPEC Ministerial Meeting, where members endorsed a new mechanism to assess national production capacities that will set the stage for fresh quotas in 2027. The group — which collectively pumps about half the world’s oil — said it would reaffirm the Declaration of Cooperation…

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