OPEC+ Moves Meeting On Oil Output To December 5

The OPEC+ alliance of major oil-producing nations has rescheduled a weekend meeting to December 5, 2025, amid what analysts suggest are signs of internal disagreements over plans to boost production.

The 22-member group, led by Saudi Arabia and Russia, had originally planned to finalize its 2025 output strategy during a ministerial meeting set for Sunday.

However, the Vienna-based Organization of the Petroleum Exporting Countries announced on Thursday that the meeting was postponed to December 5 due to “several Ministers attending the 45th Gulf Summit in Kuwait City.”

An OPEC spokesperson informed AFP that the rescheduled meeting would take place virtually.

Eight OPEC+ members announced earlier this month that they were extending supply cuts until the end of December in a bid to boost crude prices.

In recent days, oil prices have gained support from the prospect that key OPEC+ members will delay a pick-up in production that was due to begin in January.

Rystad Energy analyst Jorge Leon raised doubts that the meeting’s postponement was due to a scheduling conflict with the Gulf Summit.

“The dates were set a long time ago, so it’s not that they realized three days ago that there is a clash,” Leon said.

“What it might be hinting is that the group needs a little bit more time to decide what to do next,” he told AFP.

There “seem to be divergent views, and the delay might help align them before the meeting”.

The eight nations that have extended production cuts are Saudi Arabia and Russia, as well as Algeria, Iraq, Kazakhstan, Kuwait, Oman, and the United Arab Emirates.

They have been delaying production increases amid concerns over slowing demand, which has weighed on oil prices in recent months.

Analysts say that if OPEC nations maintain their output cuts, their market share could fall as non-OPEC nations continue to produce more. And if the group raises production, prices will drop.

“The oil market in 2025 has no room for additional OPEC+ barrels,” said analysts at DNB, Norway’s largest bank.