On November 3, 2024, OPEC+ announced a postponement of its planned production increase originally set for December. This decision marks the second delay aimed at managing oil supply in response to ongoing economic uncertainties.
The coalition, which includes major oil producers such as Saudi Arabia and Russia, had intended to raise production by 180,000 barrels per day starting next month. However, the group has opted to maintain current supply levels through December to address the challenges posed by a fragile economic outlook.