Oil Prices Edge Higher After OPEC+ Pauses Output Hikes

Oil prices rose in early Asian trading on Monday after OPEC+ announced a pause in output hikes during the first quarter of 2026, reflecting a cautious stance amid ongoing demand uncertainty.

Brent Crude gained 0.47% to trade at $65.24 per barrel, after closing $0.07 higher on Friday. West Texas Intermediate (WTI) rose 0.45% to $61.43 per barrel.

During an online meeting on Sunday, eight OPEC+ member states agreed to raise production by 137,000 barrels per day in December 2025, consistent with the increases implemented in October and November.

 The group subsequently announced a pause on further output hikes for January, February, and March 2026, citing "seasonality" and typically weaker demand during the first quarter.

Both Brent and WTI fell by more than 2% in October, marking their third consecutive monthly decline and hitting their lowest levels in five months on October 20, amid concerns about oversupply and economic uncertainty linked to potential US tariff measures.