OPEC+ has confirmed that production targets will remain unchanged through the first quarter of 2026, maintaining just over 3 million barrels per day of cuts. The group cited a stable economic backdrop and generally supportive fundamentals, with inventories still at low levels. A planned capacity review next year may reshape production baselines from 2027, but for now the policy stance signals continuity.

Tanker demand remains resilient as trade flows continue to be reshaped by longer routing, regional disruptions, and steady Atlantic export activity. Price pressure eased early this week after a drone strike reduced capacity at the CPC export terminal near Novorossiysk, the main outlet for Kazakhstan’s light sweet crude and a system that carries more than 1 percent of global supply. The incident, combined with renewed political friction in the Americas, lifted Brent and WTI modestly and highlighted how sensitive market balances remain despite stable OPEC+ policy.