Commodities

OPEC+ Extends Oil Cuts to 2026 Amid Weak Demand and Price Pressures

Russell Shor Written by Russell Shor

OPEC+ has postponed lifting its oil production cuts until 2026 due to weak demand. The group will keep production capped at 39.725 million bpd through 2026. Voluntary cuts of 2.2 million bpd will now continue into early 2026, with gradual increases starting in April. Another cut of 1.7 million bpd will also remain in place until late 2026. Despite these efforts and tensions in the Middle East, oil prices have stayed low due to sluggish demand. Analysts warn that prices are likely to remain weak, with uncertainty heightened by potential policy changes under President-elect Trump.

Russell Shor

Senior Market Strategist

Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.

Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.

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