Brent Crude Extends Gains as OPEC+ Pauses Q1 Output Hikes

Brent crude futures moved higher today, reflecting renewed optimism after OPEC+ announced it will pause further production increases in the first quarter of 2026, easing fears of a global supply glut.

Key Drivers

OPEC+ confirmed a modest rise of 137,000 barrels per day (bpd) scheduled for December, but production hikes will be held off in January through March 2026.

The decision comes amid concerns of seasonal weak demand and growing output from non-OPEC producers.

Additional support for prices came from supply-risk concerns, including sanctions on Russian oil companies and drone strikes on Russian export infrastructure.

Market Snapshot

Brent crude futures rose about 0.37% to around $65.01 per barrel by early Asian trade.

U.S. West Texas Intermediate (WTI) also gained, trading near $61.19 per barrel.

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