OPEC+ Pauses Output Hikes for Feb and March

HOUSTON, TX (DTN) – OPEC+ countries reconfirmed on Sunday (1/4) their decision to pause planned oil production increases in February and March, as announced on November 2, 2025.

The move was attributed largely to seasonal factors and ongoing efforts to balance global supply and demand. 

Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman held a virtual meeting on Sunday to assess current market conditions and future outlooks.  

During the meeting, the OPEC+ members maintained their commitment to market stability “based on steady global economic outlook and current healthy oil market fundamentals reflected in low inventories,” according to the group statement.

The OPEC+ members also reconfirmed that voluntarily curtailed production of 1.65 million bpd could be gradually returned to the market, either partially or fully, depending on market condition developments. 

Additionally, the group stated that production adjustments could be paused or reversed if necessary. This includes the continuation of earlier voluntary cuts totaling 2.2 million bpd that started in November 2023. 

The eight countries agreed to continue holding monthly meetings to monitor market conditions. The next OPEC+ meeting is scheduled for February 1.