MON DEC 01 2025-theGBJournal| Brent, West Texas Intermediate crude rose $1.01 to $63.39 a barrel and $1 to $59.55 per barrel on Monday after OPEC+ members reaffirmed a plan to keep output steady.
The plan follows a meeting of the eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 30 November 2025, to review global market conditions and outlook.
The eight participating countries reiterated that the 1.65 million barrels per day may be returned in part or in full subject to evolving market conditions and in a gradual manner.
OPEC+ said it will continue to closely monitor and assess market conditions, and in their continuous efforts to support market stability, they reaffirmed the importance of adopting a cautious approach and retaining full flexibility to continue pausing or reverse the additional voluntary production adjustments, including the previously implemented voluntary adjustments of the 2.2 million barrels per day announced in November 2023.
The move which was widely expected by market players who said the decision provided some relief and helped steady expectations for supply growth in the coming months.
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