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"Although we anticipate a price drop in 2026, we believe that OPEC+ strategies and China's ongoing inventory accumulation will restrict the decrease." According to a December report from the US Energy Information Administration (EIA), "considering our anticipation for a considerable rise in worldwide oil inventories, we forecast OPEC+ output to be around 1.3 million bpd beneath its intended level by 2026."
In late November, OPEC+ nations reiterated their prior choice to halt production hikes in the first quarter of 2026, though the coalition is receptive to possible adjustments in policy.
"A large share of this year's increase in oil inventory was due to China's strategic reserves, which reduced the downward pressure on prices." The EIA stated, "We anticipate that China will keep expanding its strategic reserves in 2026."
source: cnn.com
In late November, OPEC+ nations reiterated their prior choice to halt production hikes in the first quarter of 2026, though the coalition is receptive to possible adjustments in policy.
"A large share of this year's increase in oil inventory was due to China's strategic reserves, which reduced the downward pressure on prices." The EIA stated, "We anticipate that China will keep expanding its strategic reserves in 2026."
source: cnn.com
