US EditionUAE Dismisses Fears of Oil Glut
OPEC+ will raise output by 137,000 barrels per day in December 2025 but pause increases in early 2026 due to seasonal demand softness and market uncertainties, amid expected 1.3 million bpd demand growth.
- On Sunday, OPEC+ producers agreed a small rise in crude output for December while pausing increases for the first quarter of 2026, with eight members raising targets by about 2.9 million bpd since April.
- Citing `seasonality`, OPEC said the pause beyond December reflects weaker first quarter of 2026 demand and acts as insurance against supply and demand uncertainties.
- Analysts note a divergence between OPEC and the International Energy Agency, with OPEC more confident demand will hold while the IEA warns a surplus could reach 4 million bpd and a Reuters poll projects 1.6 million bpd in 2026.
- Asia's demand rebounded, with LSEG Oil Research estimating imports rose to 28.59 million bpd in October from 27.1 million bpd, led by price-sensitive China at 12.21 million bpd and India at 5.05 million bpd.
- On Monday, the UAE energy minister said the United Arab Emirates does not expect oversupply and remains broadly aligned with OPEC peers in recent weeks, staying bullish on demand.
12 Articles
12 Articles
Oil steadies as market digests OPEC+ output plans
(Reuters) -Oil prices were little changed early on Tuesday as markets weighed OPEC+’s decision to pause output hikes in the first quarter even as concerns over a looming supply glut persisted. Brent crude futures fell 9 cents, or 0.1%, to $64.80 a barrel by 0110 GMT. U.S. West Texas Intermediate crude was down 10 cents, or 0.2%, at $60.95 a barrel. On Sunday, the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+,…
UAE Dismisses Fears of Oil Glut
The United Arab Emirates doesn’t expect oversupply on the oil market as demand remains solid, the energy minister of one of OPEC’s top producers said on Monday. On Sunday, the OPEC+ producers, including the UAE, decided to pause their reversal of the production cuts in the first quarter of 2026, after a small increase in December. Citing “seasonality” and historically weaker demand in the first quarter of any year, OPEC said it would halt the p…
UAE Says No Oil Oversupply Concerns After Latest OPEC+ Decision
There are no concerns about an excess of oil in the market as demand remains strong, the United Arab Emirates said a day after OPEC+ decided to halt its output increases for the first three months of next year.
The OPEC oil cartel and its allies, OPEC+, agreed to increase oil production by 137,000 barrels per day in December. However, the cartel signaled that it would pause production increases after December.
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