OPEC+ has agreed to maintain its current oil output levels through the first quarter of 2026 after a modest 137,000 bpd hike in December. The group cited weakening seasonal demand, rising inventories in OECD nations, and a sharp slowdown in China’s refinery intake. Brent crude prices hovered near $84 per barrel following the decision. Analysts expect the pause to tighten markets in early 2026 if geopolitical disruptions persist. Russia and Saudi Arabia reiterated commitment to price stability amid slower non-OPEC supply growth.