OPEC+ Expected to Modestly Raise December Oil Output Amid Oversupply Concerns

OPEC+ is expected to approve a modest increase of 137,000 barrels per day in oil production targets for December, continuing a cautious approach amid forecasts of a global supply glut next year. Since April, the alliance has raised output by over 2.7 million bpd but has slowed the pace in recent months due to oversupply concerns and new Western sanctions on Russia, which complicate Moscow's ability to boost production. Eight key members, including Saudi Arabia, Russia, and the UAE, are set to agree on this incremental hike, although some insiders suggest a possible pause in output increases. Oil prices fell to around $60 per barrel in October due to oversupply fears but rebounded to about $65 following sanctions on Russia and optimism over trade talks. Analysts emphasize that significant production increases are unlikely without clear signs of supply disruptions. The OPEC+ meeting to finalize this decision is scheduled for Sunday, November 2, 2025.