Oil prices climbed in early Asian trading on Monday after the OPEC+ alliance announced it would postpone planned production increases until the first quarter of 2026. The move is aimed at stabilizing the market amid expectations of weaker global demand.
Brent crude rose to $65.24 a barrel, while West Texas Intermediate (WTI) gained to $61.43 a barrel.
The alliance had previously scheduled gradual output hikes through December, but the latest decision extends the current production levels for another three months.
Analysts say the pause reflects OPEC+’s cautious stance following a sharp price drop in October — when oil hit its lowest levels in five months due to oversupply concerns.
Meanwhile, continued U.S. sanctions and Ukrainian drone attacks targeting Russia’s Tuapse oil port have added new supply risks, supporting prices in early trading.
Market watchers expect the group’s strategy to help rebalance supply and demand heading into 2026, though much will depend on the pace of global economic recovery and geopolitical developments.
