www.bloomberg.com
OPEC+ is expected to maintain its current production strategy, holding off on planned output increases for the first quarter of the year. This decision is driven by increasing evidence suggesting a developing surplus in the global oil market. By pausing production hikes, the group aims to avoid further contributing to this surplus, potentially stabilizing prices and preventing a significant market downturn in the face of sluggish demand or increased supply from other sources. This cautious approach reflects concerns about the overall balance of supply and demand in the near term.
