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Opec says Opec+ raised output in November, leaves demand view steady

Opec says Opec+ raised output in November, leaves demand view steady

By Swedan Margen

Fashion

Opec said on Thursday (Dec 11) that the wider Opec+ oil producer group nudged up output in November as eight Opec+ members pressed ahead with another production increase, and it maintained forecasts for relatively strong growth in demand next year.

Opec+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, pumped 43.06 million barrels per day of crude in November, Opec said in a monthly report, up 43,000 bpd from the previous month.

Demand for Opec+ crude will average 42.6 million bpd in the first quarter of 2026 and 43 million bpd for the full year, Opec’s report said.

Opec also kept its forecasts for 2025 and 2026 world oil demand growth unchanged and said the world economy remained on a solid footing. REUTERS

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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