Global oil prices rose more than 1.5% on Monday after the producer coalition OPEC+ decided to keep output levels unchanged for the first quarter of 2026. The decision, announced during the group’s latest meeting, pauses previously planned production increases — a move that has reassured markets about supply discipline.
By late trading, benchmark Brent crude futures climbed to about US$ 63.32 a barrel, while U.S. West Texas Intermediate crude rose to roughly US$ 59.45 a barrel — reflecting renewed bullishness among traders.
Market participants see the output freeze as a sign that producers are becoming cautious about a possible supply glut next year. OPEC+ reportedly wants to avoid oversupplying a market already under pressure from macroeconomic headwinds and uncertain demand outlooks.
That said, analysts warn that underlying global oversupply risks remain. With demand growth appearing modest and many non-OPEC producers continuing production, prices may remain volatile — and any sustained rally could be capped unless demand picks up or further supply constraints emerge.
Leave A Comment