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OPEC and non-OPEC participating countries reaffirmed the Declaration of Cooperation and the overall crude production level agreed at the 38th ministerial meeting, extending it through 31 December 2026. They approved a mechanism to assess members' maximum sustainable capacity to set 2027 baselines and scheduled the next ministerial meeting for June 2026.
Holding overall output steady through 2026 signals no near-term supply increase from the group, which partially offsets concerns about a looming global glut. Oil price impact is modest since the decision largely confirms existing policy.
moenergy.gov.saNov 30, 2025After 63 past neutral geopolitics events, Crude Oil (Brent) moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% over 20.
After 60 past neutral geopolitics events, Crude Oil (WTI) moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
