The Organization of the Petroleum Exporting Countries+ alliance has postponed its ministerial meeting originally set for this weekend to December 5, 2025, amid what analysts suggest could be internal disagreements over production plans.
The alliance, consisting of 22 oil-producing nations led by Saudi Arabia and Russia, had planned to finalize its output strategy for 2025 at the now-delayed session.
In a statement on Thursday, the Vienna-based Organization of the Petroleum Exporting Countries announced that the meeting was rescheduled to December 5 due to several ministers attending the 45th Gulf Summit in Kuwait City.
An OPEC spokesperson confirmed to AFP that the upcoming meeting will be conducted online.
Earlier in November, eight OPEC+ members, including Saudi Arabia and Russia, extended their existing supply cuts until the end of December in an effort to bolster crude prices.
The extension had recently supported oil prices, with speculation that the group might hold off on increasing production initially scheduled for January.
However, Rystad Energy analyst Jorge Leon expressed skepticism about the stated reason for the delay, noting that the Gulf Summit’s timing had long been known.
“The dates were set a long time ago, so it’s not that they realised three days ago that there is a clash,” Leon explained. He added, “What it might be hinting is that the group needs a little bit more time to decide what to do next.”
According to Leon, differing opinions within the alliance may have prompted the postponement to allow more time for consensus-building ahead of the December meeting.
The eight nations maintaining their production cuts are Saudi Arabia, Russia, Algeria, Iraq, Kazakhstan, Kuwait, Oman, and the UAE.
Their decision comes amid concerns about weakening demand, which has kept downward pressure on oil prices in recent months.
Analysts warn that prolonged output cuts could erode OPEC’s market share as non-OPEC producers ramp up production. On the other hand, increasing output could lead to price declines.
Commenting on the delicate balance, DNB analysts stated, “The oil market in 2025 has no room for additional OPEC+ barrels.”
