OPEC is likely to leave oil output levels for the first quarter of 2026 unchanged at its meetings on Sunday, three delegates from the group said on Saturday, moderating a push to regain market share amid fears of a looming supply glut.
The meeting of OPEC, which pumps half of the worlds oil, comes as oil prices are also under pressure from the prospect of a Russia-Ukraine peace deal. Brent crude LCOc1 closed on Friday near 63 a barrel, down 15 this year.
On Sunday, eight OPEC countries are likely to keep their policy to pause oil output hikes in the first quarter of 2026 unchanged, the three delegates said, following similar comments from others this week. They agreed the pause at their last meeting earlier in November.
