OPEC+ Considers Delaying Oil Output Hike in 2025

OPEC+ is considering postponing an increase in oil output originally scheduled for the first quarter of 2025. Discussions are ongoing, and further talks will be held, aiming to address an output hike for the UAE set for January. A decision is expected on December 5.

OPEC+ is contemplating deferring its planned oil production increase initially set for the first quarter of 2025, according to insider information acquired by Reuters on Thursday. The organization intends to hold additional discussions, exploring various options, as it postpones the policy decision meeting until December 5.

Among the intricate issues to be discussed is the oil output rise for the United Arab Emirates, due to commence in January, as highlighted by two sources familiar with the matter.

This potential delay in production adjustments reflects the organization's cautious approach in addressing market dynamics and geopolitical considerations, with key discussions lined up in the coming weeks.

(With inputs from agencies.)