Oil prices experienced slight declines following OPEC+'s decision to delay the restoration of oil production by three months. Despite this delay, the group plans to increase output next year in anticipation of a market surplus. West Texas Intermediate (WTI, Financial) crude fell by 0.4%, closing near $68 per barrel, while Brent crude dropped to around $72 per barrel.
OPEC+ has postponed its original production increase plan, now set to start in April, with a slower pace aiming for completion by September 2026. Analysts suggest that while this move may support prices short-term, risks related to energy supply remain. The International Energy Agency forecasts a global market surplus by 2025, even without additional OPEC+ production.
