# OPEC data indicate close oil supply-demand balance in 2026, no glut | Reuters

> OPEC's monthly report showed OPEC+ crude output at 43.06 million bpd in November, up 43,000 bpd. The report forecasts 2026 OPEC+ crude demand at 43 million bpd, unchanged from last month. Reuters calculated that sustained November output would exceed 2026 demand by about 60,000 bpd.

- Date: 2025-12-11 · published 2025-12-11T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/21425-opec-data-indicate-close-oil-supply-demand-balance-in-2026-no-glut-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A near-balanced supply and demand outlook for 2026 suggests no major glut, which limits bearish pressure on crude. Crude prices influence fuel and transport costs for feed.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-02-15 | [Oil demand growth slowing as non-OPEC supply expands, says IEA \| Reuters](https://feedsoft.ai/events/31840-oil-demand-growth-slowing-as-non-opec-supply-expands-says-iea-reuters.md) | +1.1% | +1.2% |
| BRENT | 2025-12-11 | [OPEC Keeps 2026 Oil Supply, Demand Outlook Steady in Latest Report - Bloomberg](https://feedsoft.ai/events/21426-opec-keeps-2026-oil-supply-demand-outlook-steady-in-latest-report-bloomberg.md) | -4.0% | +2.5% |
| BRENT | 2018-01-31 | [Oil rebounds, ends up on gasoline demand, OPEC compliance](https://feedsoft.ai/events/67146-oil-rebounds-ends-up-on-gasoline-demand-opec-compliance.md) | -2.3% | -1.9% |
| BRENT | 2024-01-03 | [OPEC’s Crude Oil Output Steady in December Before New Supply Cuts - Bloomberg](https://feedsoft.ai/events/32039-opec-s-crude-oil-output-steady-in-december-before-new-supply-cuts-bloomberg.md) | +2.3% | +9.8% |
| BRENT | 2018-02-21 | [IEA, EIA, OPEC differ on 2018 supply, demand growth - BusinessDay NG, TV, and Podcast](https://feedsoft.ai/events/66687-iea-eia-opec-differ-on-2018-supply-demand-growth-businessday-ng-tv-and-podcast.md) | +3.3% | +2.7% |
| WTI | 2024-02-15 | [Oil demand growth slowing as non-OPEC supply expands, says IEA \| Reuters](https://feedsoft.ai/events/31840-oil-demand-growth-slowing-as-non-opec-supply-expands-says-iea-reuters.md) | +3.1% | +6.4% |
| WTI | 2025-07-01 | [OPEC trims 2025 oil demand growth estimate but hikes ‘call’ on its crude](https://feedsoft.ai/events/24393-opec-trims-2025-oil-demand-growth-estimate-but-hikes-call-on-its-crude.md) | +4.3% | +2.3% |
| WTI | 2018-01-31 | [Oil rebounds, ends up on gasoline demand, OPEC compliance](https://feedsoft.ai/events/67146-oil-rebounds-ends-up-on-gasoline-demand-opec-compliance.md) | -1.8% | -4.8% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/opec-says-opec-raised-output-november-leaves-demand-view-steady-2025-12-11/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.